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UK Prime Minister Rishi Sunak has made a historic commitment of $2 billion to the Green Climate Fund (GCF) ahead of the second day of the G20 Summit in New Delhi. This contribution represents the largest single funding commitment by the UK to combat global climate change. The GCF, established by 194 countries following the Copenhagen Accord at COP15, plays a crucial role in financing projects and initiatives aimed at addressing climate change.
In a statement released by the UK government, it was highlighted that this pledge represents a 12.7% increase over the UK’s previous contribution to the GCF for the period of 2020-2023. That earlier commitment was already a doubling of the UK’s initial funding to establish the fund in 2014.
During his address at the G20 Summit, Sunak emphasized the pressing need for climate action and called upon world leaders to come together in their commitment to reducing carbon emissions and providing support to nations facing the adverse impacts of climate change.
“The UK is stepping up and delivering on our climate commitments, both by decarbonizing our own economy and supporting the world’s most vulnerable to deal with the impact of climate change,” Sunak stated, as quoted by the Prime Minister’s Office.
He added, “This is the kind of leadership that the world rightly expects from G20 countries. And this government will continue to lead by example in making the UK, and the world, more prosperous and secure.”
The G20 Summit provided a platform for leaders from the world’s largest economies to discuss critical global issues, with a particular focus on climate change. Following the successful G20 Summit, the international community will turn its attention to the upcoming COP28 Summit, where nations are expected to make crucial decisions and commitments to limit global warming and mitigate the effects of climate change.
