Perhaps the lords of England are finally getting it?
UK halves funding to flagship global climate fund
The UK has halved its contribution to the world’s largest dedicated climate fund, a cut of more than £800mn, in a move that will reinforce concerns that rich countries are retreating from a promise to help developing nations respond to global warming.
The move comes a year after Donald Trump’s administration rescinded the US’s $4bn pledge to the UN’s Green Climate Fund, which had left the UK as the largest contributor.
The UK notified the fund this week that it would cut its pledge for its second replenishment cycle by about 50 per cent to £815mn, according to an email seen by the FT. The reduction forms part of far-reaching cuts to its international aid budget.
The Green Climate Fund, which is the main financial tool to implement the landmark Paris Agreement, oversees $20bn committed to projects in areas such as renewable energy, energy efficiency and resilient agriculture in 134 developing countries.
That’s a bit over a billion US that the UK cut
In an email to the board, which is made up of developed and developing countries, GCF boss Mafalda Duarte wrote that the UK move came as the country decided to cut overseas aid allocations “and invest more in addressing growing security threats”.
She added that it was “expected to have a material impact on the delivery” of its projects.
What are those growing security threats? Is she meaning from mythical ‘climate change’ Bad Weather in the UK? Or, maybe the threat from the millions of Islamic radicals the UK has let into the nation?
I guess that wasting 50p is an improvement over wasting £1.00, but . . . .