PM commits £3bn UK climate finance to supporting nature

The Prime Minister Boris Johnson will today announce that the UK will commit at least £3bn to climate change solutions that protect and restore nature and biodiversity over five years.

The funding will be allocated from the UK’s existing commitment of £11.6bn for international climate finance and will deliver transformational change in protecting biodiversity-rich land and ocean, shifting to sustainable food production and supply, and supporting the livelihoods of the world’s poorest.

Programmes supported by the funding will include the flagship Blue Planet Fund for marine conservation; projects to maintain forests and tackle the illegal timber trade and deforestation; and initiatives to conserve habitats such as mangroves that protect communities from the impacts of climate change.

The Prime Minister will make the announcement at the One Planet Summit, a leader-level virtual event convened by France. He will address a session on Financing for Biodiversity, to call on others to raise their level of ambition on funding for nature and to mobilise public and private finance for sustainable solutions to climate change.

The Foreign Secretary Dominic Raab and COP President Alok Sharma will also convene a roundtable on Clean Power Transition with the UN Secretary-General Antonio Guterres on Monday, bringing together ministers from eight African and European countries.

The Foreign Secretary is expected to announce that the UK will pledge up to £38 million to the Climate Compatible Growth programme, supporting developing countries to accelerate their transition to green energy while growing their economies.

The UK is already moving to clean power faster than any major economy, and last year committed to protect at least 30 per cent of our land and ocean by 2030. Together, today’s announcements address the two leading sources of global emissions – electricity generation and land use – and demonstrate the UK’s leadership in fighting climate change ahead of the COP26 summit in Glasgow in November.

Ahead of the One Planet Summit, Prime Minister Boris Johnson said: “We will not achieve our goals on climate change, sustainable development or preventing pandemics if we fail to take care of the natural world that provides us with the food we eat, the water we drink and the air we breathe. The UK is already leading the way in this area, committing to protect 30 percent of our land and ocean by the end of the decade and pledging at least £3bn today to supporting nature and biodiversity. We must work together as a global community to drive the ambitious change and investment we need to protect our shared planet and the glorious, rich and diverse life within it.”