Monday, Nov 1 2021 | Time 14:56 Hrs(IST)
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WorldPosted at: Nov 1 2021 10:21AM


UK to provide additional $1.3 billion in climate financing

UK to provide additional $1.3 billion in climate financing

London, Nov 1 (UNI/Sputnik) British Prime Minister Boris Johnson is expected to pledge an extra one billion pounds ($1.3 billion) in climate finance at the 26th UN Climate Change Conference (COP26) in Glasgow.

Johnson is expected to make a commitment to increase climate finance support for developing countries by 1 billion pounds by 2025 if the British economy grows as forecast.

The British government, which committed 11.6 billion pounds ($15.9 billion) over the next five years in climate finance, has pledged to achieve net zero carbon emissions by 2050 at the latest. The new pledge would increase the financial commitment to 12.6 billion pounds by 2025.

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