UK pledges record $2bn climate action funding at G20

The Government has announced a $2bn pledge to the Green Climate Fund (GCF) as its second replenishment (GCF-2). The announcement was made by Prime Minister Rishi Sunak at the G20 Leaders’ Summit in New Delhi.

The UK has been a long-term, committed supporter of GCF, and contributed £1.44bn to the GCF’s first replenishment for the period 2020-23. This announcement represents a 12.7 per cent increase in its commitment.

The UK is the 8th contributor to announce an early pledge for GCF-2, following Czechia, Austria, Germany, Monaco, Canada, Denmark and South Korea. The country’s pledge is an added boost for the growing momentum surrounding GCF’s second replenishment and in the lead up to the Fund’s High-Level Pledging Conference in Bonn, Germany in October.

Andrew Mitchell, Minister for Development said, “The Green Climate Fund plays a critical role in global efforts to limit climate change and address its impacts. Our increased pledge of $2bn to the GCF underlines our sustained commitment to tackling climate change.”

GCF is the world’s largest climate fund at currently $12.8bn fund, with a $48.3bn total of approved projects, supporting developing nations to meet their targets to reduce carbon emissions, develop cleaner energy sources and adjust to a warming world.

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