The United Kingdom has pledged £ 140 million to support developing countries to deliver net zero target while extending access to affordable energy and growing their economies
The United Kingdom (U.K.) has pledged £ 140 million to support developing countries to deliver net zero target while extending access to affordable energy and growing their economies
The announcement was made by the Energy Security and Net Zero Minister – Graham Stuart at the 28th Conference of the Parties to the United Nations (U.N.) Framework Convention on Climate Change (COP28).
The funds will help provide clean energy to 8.7 million people, create 25,000 jobs and cut CO2 emissions by at least 800,000 tonnes. To meet net zero globally by 2050, at least a third of the emissions reductions will need to be supported by technologies that are not yet on the market. The U.K. is, therefore, working with partners to accelerate the global green transition, helping make clean technologies affordable, accessible and reliable for all.
Speaking on the occasion, Stuart said, “The U.K. is helping other nations act swiftly to switch to renewable energy and slash emissions on the pathway to net zero, all while creating thousands of new green jobs. Backed by an extra £ 140 million, the UK is leading the world in supporting developing countries to unlock innovation and clean tech in this critical decade for our climate.”
The latest package is a part of £1.6 billion funds announced by the Prime Minister of the U.K. – Rishi Sunak at the start of COP28. Of these new funds, up to £ 80 million will come through the U.K. Partnering for Accelerated Climate Transitions (PACT), a flagship U.K. partnership programme to support Governments across Africa, Asia, and Latin America to set clean growth goals, switch to renewable energy, greener transport and more sustainable use of land.
Another £ 40 million will come from the Transforming Energy Access (TEA) platform to demonstrate energy access technologies in low-income countries and fund research and development into climate-friendly refrigeration and appliances that can run directly off renewables.
Another £ 15 million will come via the Modern Energy Cooking Services (MECS) Programme to help countries move away from firewood and charcoal for cooking to cleaner electrical cooking appliances. An additional £ 4 million will support universal access to affordable and reliable clean energy in Africa, which will deliver access to electricity to thousands of people.
Besides, the U.K. also committed to the Green Public Procurement Pledge, alongside Germany, Canada and the United States (U.S.) to accelerate low-carbon steel, cement and concrete production. Australia and Norway have signed the U.K.-led Clean Energy Transition Partnership, bringing the total membership to over 40 countries and public finance institutions.
