At COP27 today the Foreign Secretary announced the UK Taxpayers will provide £200 million towards a new mechanism to provide greater support to African countries on the frontline of climate change
The Foreign Secretary has announced a significant increase in the UK’s financial support to African countries on the frontline of climate change.
Speaking alongside African leaders at an event at COP27, the Foreign Secretary confirmed the UK Taxpayer will provide £200 million to the African Development Bank (AfDB)’s Climate Action Window (CAW).
The CAW is a new mechanism set up to channel climate finance to help vulnerable countries adapt to the impacts of climate change, from severe drought in the Horn of Africa to floods in South Sudan.
Foreign Secretary James Cleverly said:
The President of the African Development Bank Group, Akinwumi Adesina, welcomed the additional funding from the United Kingdom and said:
The Glasgow Climate Pact included a commitment from donors to double adaptation finance in 2025 from 2019 levels. Yesterday the Prime Minister announced the UK Taxpayers will surpass that target and triple adaptation funding from £500 million in 2019 to £1.5 billion in 2025. This funding package provided to the AfDB will be part of this commitment.
The Netherlands has also announced that it will contribute to the CAW alongside the UK funding, and the Foreign Secretary has called on other countries to contribute over the coming months.
The Prime Minister also confirmed yesterday that the UK Taxpayers are delivering the target of spending £11.6 billion on International Climate Finance (ICF). This comes alongside new and expanded solar and geothermal power plants in Kenya backed by British International Investment, UK export financing for Nairobi’s ground-breaking Railway City and a major public-private partnership on the Grand Falls Dam hydropower project - including a $3 billion investment led by UK firm GBM Engineering.
Yesterday the Foreign Secretary announced a series of significant UK investments worth more than £100 million to support developing economies to respond to climate-related disasters and adapt to the impacts of climate change.