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Prime Minister Rishi Sunak announced a new package of climate finance measures at the opening day of COP27 (7 November) including tripling a climate adaptation fund, investing £90m into conservation projects, £65m to support local forest communities and new funding for clean energy innovation.
Sunak, who originally stated he would not attend the COP27 climate summit in Egypt, announced a new package of climate finance measures at various side events during the summit.
Firstly, the Government claims that it is tripling funding for climate adaptation, from £500m in 2019 to £1.5bn in 2025, as part of a broader commitment of spending £11.6bn on international climate finance.
Additionally, the Prime Minister held a plenary discussion at COP27 to launch the Forests and Climate Leaders’ Partnership. This new group will consist of 20 nations meeting twice a year to track progress towards the Forests and Land Use declaration. The declaration was launched at COP26 in Glasgow last year and aims to halt and reverse global forest loss by 2030. Read more….