G20 Summit 2023: UK PM Rishi Sunak announces $2 billion aid to tackle climate change

UK Prime Minister Rishi Sunak has announced a commitment of a record $2 billion to the Green Climate Fund (GCF). 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.  

UK Prime Minister Rishi Sunak announced a commitment of a record $2 billion to the Green Climate Fund (GCF), marking the largest single funding contribution by the UK to combat climate change on a global scale. The Green Climate Fund, which was created by 194 nations as part of the Copenhagen Accord at COP15, is essential for funding projects and programmes that address climate change

According to the British High Commission in India, the UK would contribute £1.62 billion ($2 billion) to the Green Climate Fund (GCF), which was formed by 194 nations in the wake of the Copenhagen Accord at COP15.

According to media reports, PM Sunak concluded the G20 summit in New Delhi by urging the other participants to reduce carbon emissions and support economically weak countries in advance of the next COP28 climate summit in the United Arab Emirates.

The United Kingdom's financial commitment, which covers the years 2024 to 2027, represents a 12.7% increase over its contribution for the years 2020 to 2023, according to the UK government. According to the release, Sunak's financial commitment is a component of the UK Government's pledge to provide $4.46 billion ($11.6 billion) in international climate finance.

During his speech at the G20 Summit, Sunak emphasised the necessity of taking urgent climate action and urged world leaders to join forces in their determination to cut carbon emissions and help countries dealing with the negative consequences of climate change. The G20 Summit, which brought together leaders from the world's largest economies, served as a platform for discussing crucial global issues, including climate change.