New Delhi: British Prime Minister Rishi Sunak on Sunday announced his country's decision to provide $2 billion to the Green Climate Fund which is the biggest single funding commitment the UK has made to help the world tackle climate change. The UK will contribute £1.62 billion ($2 billion) to the Green Climate Fund (GCF), which was established by 194 countries following the Copenhagen Accord at COP15," the British High Commission in India said, news agency ANI has reported.
PM Sunak marked the end of the G-20 meeting in New Delhi, calling on his fellow attendees to take action in reducing carbon emissions and assisting economically vulnerable nations in preparation for the upcoming COP28 climate summit in the United Arab Emirates, according to media reports.
The United Kingdom’s financial commitment, spanning from 2024 to 2027, reflects a 12.7 per cent increase compared to its contribution from 2020 to 2023, the UK government said.
Initiated in 2010 through the Cancún Agreement, the Green Climate Fund (GCF) serves as the financial instrument for the United Nations Framework Convention on Climate Change and the Paris Agreement. Its primary objective is to aid the global community in reaching its objectives for both mitigation and adaptation.
The financial commitment announced by Sunak is part of the UK Government’s commitment to provide approximately £11.6 billion ($4.46 billion) in international climate financing, according to the statement.
