In 2009, the UK and other wealthy countries promised to scale up climate finance to $100bn a year by 2020 and agreed that this money should be “new and additional” to what they already spend on aid.
The commitment was intended to prevent governments from reallocating funds from their existing development budgets to pay for climate action, which “lets advanced economies off the hook for these two different responsibilities,” explained Katie Gallogly-Swan, who works on climate policy with the United Nations Conference on Trade and Development.
In a 2018 climate report, the British government told the UN it defines climate finance as “a new, dedicated climate commitment which is additional to historic official development assistance levels and has not diverted funds from existing development spending.”
Former senior UN officials said the UK was now appearing to go back on its word. “Promises made should be promises kept,” said Rachel Kyte, a top World Bank official at the 2015 Paris climate conference.
“Climate finance promises haven’t been and should be before COP26 later this year. This means making good on the level of commitment indicated and showing how this will be increased for the period to come.”
Last year, the UN secretary general António Guterres said that rich countries had failed to meet the $100bn climate finance target they set in 2009. Aid organisations warned that by cutting foreign aid, the UK is jeopardising efforts to get other countries to up their commitments at a time when they are failing short.
“The UK aid cuts are already having a devastating impact on people who live in poverty and those most impacted by climate change, especially women and girls,” said Francesca Rhodes, a senior policy adviser at CARE International UK.
Many climate experts believe the current climate finance targets are already too low. “It's common knowledge that that $100bn goal is a farce. It's nowhere near the expected investment needed to transition to a low-carbon future. And it's also nowhere near the loss and damage that many climate-vulnerable states are already experiencing every year,” said Gallogly-Swan.
“This isn't a question of rich countries' generosity,” she added. “This is a fair accounting of the differentiated responsibility that different states must bear for responding to climate change.”
A spokesperson from the Foreign, Commonwealth and Development Office said, “The UK remains unwaveringly committed to doubling our international climate finance to £11.6bn over the next five years.
“While the seismic impact of the pandemic on the UK economy has forced us to take tough but necessary decisions, the UK aid budget this year will still be more than £10bn.”
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