UK Provides £1 Billion to Tackle Climate Change in Developing Countries
Thu, 8 December 2011
The UK has allocated more than two thirds of its Fast Start Finance, which is helping the poorest and most vulnerable to adapt to climate change, putting it well on track to meet its £1.5bn commitment by the end of 2012. Developed countries pledged to provide approaching $30 billion of Fast Start Finance between 2010-12 at the Copenhagen climate talks in 2009, with the UK contributing £1.5bn.
Fast Start finance for 2011 and 2012 is funded from the UK government’s £2.9bn International Climate Fund (ICF). The ICF aims to help developing countries tackle climate change and adapt to the effects of global warming. Projects include £150 million to fund the Clean Technology Fund which will support project such as low carbon public transport systems and promote energy efficiency in Nigeria. It is expected these projects will save 47 million tonnes of carbon dioxide equivalent.