UK Prime Minister Rishi Sunak will launch on Monday major international climate package to deliver on the UK’s Glasgow legacy at Egypt’s COP27.
This will include £65.5 million ($74.8 million) for green tech innovation and significant clean energy investments with Kenya and Egypt. In addition, the UK will also launch a new Forests and Climate Leaders’ Partnership and confirm more than £150 million for protecting rainforests and natural habitats, including the Congo Basin and Amazon.
The UK will confirm new financial support for Egypt’s flagship COP27 initiative, the ‘Nexus on Food, Water and Energy’. The funding is set to develop projects including solar parks and energy storage innovations, and is expected to mobilise billions in private sector finance.
Sunak will reaffirm the UK’s steadfast commitment to supporting countries on the frontline of climate change.
Recognising the existential threat climate change is already posing around the world – from catastrophic floods in Pakistan to drought in Somalia – the UK government will commit to triple funding for climate adaptation as part of that budget, from £500 million in 2019 to £1.5 billion n in 2025.
The UK prime minister will also host an event later to launch the Forests and Climate Leaders’ Partnership. The new group, initially comprising 20 countries, will meet twice yearly to track commitments on the landmark Forests and Land Use declaration at COP26, which aims at halting and reversing forest loss by 2030.
“The PM will also confirm £65 million in funding for the Nature, People and Climate Investment Fund, which supports indigenous and local forest communities, and new financing for Treevive, which is working to conserve and restore two million hectares of tropical forest.” a statement by Prime Minister’s Office, 10 Downing Street read.
“As we hand over the Presidency of COP, the Government is focused in particular on partnering with the private sector to facilitate green innovation and energy transition, at home and around the world. As well as helping the drive for net zero, reducing the global demand for oil and gas cuts off the funds for Russia’s brutal war machine.”
“In support of this, the Prime Minister will announce a further £65.5 million for the Clean Energy Innovation Facility today, which provides grants to researchers and scientists in developing countries to accelerate the development of clean technology.
“Since the BEIS-led fund was launched in 2019 it has supported the creation of biomass-powered refrigeration in India, prototype lithium-ion batteries in Nigeria and clean hydrogen-based fuels for steel production in Morocco, among other innovations.”
