Prime Minister Rishi Sunak will make a series of announcements on energy transition, climate financing and forest and nature preservation at COP27 in Egypt today.
The UK government will commit to tripling funding for climate adaptation, from £500m in 2019 to £1.5bn in 2025. He is hosting an event later today 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 to halt and reverse forest loss by 2030.
To support the forest agenda, the UK is committing £90m today for conservation in the Congo Basin, a tropical rainforest which is home to some 10,000 species of tropical plants and several endangered species, including forest elephants, chimpanzees and mountain gorillas.
The PM will also confirm £65m 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.
The government has said it 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 £65.5m for the Clean Energy Innovation Facility today, which provides grants to researchers and scientists in developing countries to accelerate the development of clean technology.
Prime Minister Rishi Sunak is expected to tell COP27 later today: “The world came together in Glasgow with one last chance to create a plan that would limit global temperature rises to 1.5⁰. The question today is: can we summon the collective will to deliver on those promises.
“I believe we can. By honouring the pledges we made in Glasgow, we can turn our struggle against climate change into a global mission for new jobs and clean growth.
“And we can bequeath our children a greener planet and a more prosperous future. That’s a legacy we could be proud of.”