Saturday,15 Mar 2025
UK to commit additional 1 bn pounds for climate finance
New Delhi
01-November-2021

photo:IANS
The world must move from aspiration to action to limit rising global temperatures, British Prime Minister Boris Johnson will tell leaders at UN Climate Change Conference (COP26) in Glasgow, as he commits to increase the UK's own climate finance by 1 billion pounds by 2025.
These actions will make the biggest difference in reducing emissions this decade on the world's path to net zero and keeping alive the global aim of limiting rising temperatures to 1.5C under the Paris Agreement.
Leading by example, the UK doubled its International Climate Finance commitment to 11.6 billion pounds over five years in 2019, and the Prime Minister's new announcement would take this to a world-leading 12.6 billion pounds, if the economy grows as forecast.
The UK's International Climate Finance is drawn from the overseas aid budget, which -- as set out in the Spending Review -- is forecast to return to 0.7 per cent of GNI in 2024-25. The funding goes to life-changing programmes around the world, shoring up the defences of communities on the frontline of climate change, protecting nature and biodiversity, and supporting the global transition to clean and green energy.
At Monday's opening ceremony, Johnson is expected to say: "Humanity has long since run down the clock on climate change. It's one minute to midnight and we need to act now. If we don't get serious about climate change today, it will be too late for our children to do so tomorrow."
Later in the day, he will bring round one table some of the world's biggest economies with the countries most vulnerable to climate change to hear what is at stake for countries if action is not taken now and set the tone for two weeks of negotiations to come.
Watch This TWL Video
The COP26 climate summit comes six years after the Paris Agreement was signed by over 190 countries to limit rising global temperatures to well below 2C with a view of reaching 1.5C.
According to the UN, global temperatures are currently set to rise to 2.7C.
Scientists are clear that emissions must halve by 2030 to keep the aims made in Paris within reach.-IANS
More Headlines
AI Cybersecurity Startup Neural Defend Raises $600K in Pre-Seed Round
Chennai Doctor and Family Found Dead Amid ₹5 Crore Business Loss
Karnataka Withdraws CID Probe in Ranya Rao Gold Smuggling Case
New Kerala Guv Strikes Cordial Tone, Hosts CM Vijayan And FM Sitharaman In Delhi
Digital Payments Surge in India: 18,120 Crore Transactions in FY24-25
AI Cybersecurity Startup Neural Defend Raises $600K in Pre-Seed Round
Chennai Doctor and Family Found Dead Amid ₹5 Crore Business Loss
Karnataka Withdraws CID Probe in Ranya Rao Gold Smuggling Case
New Kerala Guv Strikes Cordial Tone, Hosts CM Vijayan And FM Sitharaman In Delhi
Digital Payments Surge in India: 18,120 Crore Transactions in FY24-25