PRESS RELEASE: Embargoed until 19 November 2014 – 00:01am
The Global Warming Policy Forum is today calling for the UK’s new international climate finance contribution to go towards helping developing countries with adaptation measures to increase their resilience, rather than the funds being allocated to low carbon development.
It has been reported that David Cameron will later this week pledge £650m to the Green Climate Fund, which aims to help the developing world deal with climate change.
The Government has already allocated £3.87 billion of taxpayers’ money to international climate finance. Since 2011, more than half of this funding has been allocated to low carbon energy development with only around a quarter being used for adaptation purposes.
It is also estimated that of the $35 billion of global international climate aid over the period 2010-2012, less than 15% was allocated to measures helping poor nations to cope with climate change.
Responding to reports of the UK’s contribution to the Green Climate Fund, Dr Benny Peiser, the director of the GWPF, said:
“International climate finance for low carbon development is a detrimental use of aid money. The international community should be encouraging the development of the cheapest forms of electricity generation that offer populations in the developing world the best chances of escaping poverty. It is irresponsible to be actively promoting expensive alternatives that have already led to increasing fuel poverty in the UK and the EU.”
“We are also concerned about western green investors profiteering from the Green Climate Fund; something that Governments around the world should ensure does not happen.
“The UK’s contribution to international climate finance should be targeted at helping the developing world become more resilient instead of making energy more expensive for developing economies.”
Notes to Editors
- The Green Climate Fund aims to catalyse climate finance from public and private sources, and at the international and national levels, to help the developing world adapt and mitigate climate change.
- The UK has already allocated £3.87 billion for international climate finance for the period 2011/12 – 2015/16. The Independent Commission for Aid Impact estimates that 56% has been directed to low carbon development, 27% to adaptation and 7% to forestry from 2011 to Feb 2014 [link].
- For the period 2010 – 2012, the World Resources Institute estimates that only $5 billion of international fast start climate finance was allocating to adaptation, comparing to a total of $35 billion [link].