The Independent describes its reporting approach as focused on separating facts from messaging and keeping journalism accessible without paywalls. The UK government is relying on private investors to fill a gap in climate aid and support after sweeping cuts reduced the UK contribution. The Paris Agreement requires rich countries to provide climate finance to help developing countries limit and cope with climate impacts. The UK has historically contributed climate finance, including 11.6bn from the aid budget over 2021/22 to 2025/26. Recent reporting indicates UK aid for climate finance is expected to fall by nearly 15 per cent to 6bn over the next three years. Development organisations have expressed dismay, while development minister Jenny Chapman says private investment will be leveraged to supplement funding.
"The government is betting on private investors to fill the gap in the UK's provision of climate aid and support after last year's sweeping cuts reduced the UK contribution, development minister Jenny Chapman has told The Independent. A core tenet of the landmark 2015 Paris Agreement — the climate treaty that calls for the world to limit global warming to well below 2C — is that rich countries must provide climate finance in order to assist developing countries that have typically contributed little towards the climate crisis, but are often suffering its biggest impacts."
"For its part, the UK has historically been a leader in efforts to provide climate finance, contributing 11.6bn from the aid budget over the five years from 2021/22 to 2025/26. But recent weeks have seen dismay among development organisations as it has been revealed that the amount of UK aid going towards climate finance is set to fall by almost 15 per cent, to 6bn over the next three years."
"However, Baroness Chapman said that the government is seeking to supplement that by leveraging much more money from private investors. We "
Read at www.independent.co.uk
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