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UK pledges US$2B to help small states fight climate change
Kaieteur News – Amid a gathering of G20 leaders in India on September 10-11, United Kingdom Prime Minister Rishi Sunak made a landmark announcement, reaffirming the UK’s dedication to supporting Small Island Developing States (SIDS) in their efforts to combat climate change.
United Kingdom Prime Minister Rishi Sunak (© Getty Images)
In a press statement, it was noted that the UK pledged a staggering £1.62 billion (USD$2 billion) to the second replenishment of the Green Climate Fund (GCF), spanning from 2024 to 2027. The GCF stands as the world’s largest fund exclusively aimed at assisting developing nations in reducing global emissions and adapting to the adverse effects of climate change.
It was stated that this commitment is an integral part of the UK’s overarching promise, made during COP26, to allocate £11.6 billion (USD$14.5 billion) for international climate finance between 2021 and 2026. Notably, it signifies a 13% increase compared to the UK’s previous contribution to the GCF for the 2020-2023 period.
In light of the pressing climate crisis, there’s an urgency to expedite financial aid. As such, it was stated that the UK is determined to collaborate closely with the GCF to accelerate actions that cater to those most susceptible to the ramifications of climate change, particularly the Small Island Developing States (SIDS).
Prime Minister Rishi Sunak, addressing the G20 leaders, stated, “The UK is stepping up and delivering on our climate commitments, both by decarbonizing our own economy and supporting the world’s most vulnerable to deal with the impact of climate change. This is the kind of leadership that the world rightly expects from G20 countries. And this government will continue to lead by example in making the UK, and the world, more prosperous and secure.”
In the Caribbean, the UK has maintained a responsive approach to the concerns of governments regarding climate and environmental issues. Unlocking climate finance in the Caribbean region has become a pivotal goal for the UK. Consequently, the UK’s Minister for the Caribbean recently inked an agreement worth £2.7 million (USD$3.4 million) with the Caribbean Community Climate Change Centre (5Cs) to assist CARICOM Member States in overcoming obstacles associated with accessing and disbursing climate finance.
Earlier this year, in Jamaica, the UK made a substantial £7 million (USD$8.7 million) contribution to a task force pioneering innovative methods to access climate finance. The aim is to eventually replicate this model across the region to bolster national strategies in combating climate change.
Combatting Sargassum
According to the statement, the UK has responded proactively to the concerns of Caribbean leaders by launching a call for research proposals on Sargassum seaweed. The recent influxes of Sargassum pose a significant threat to the region’s marine ecosystems, economy, and public health. The UK has invited partners to submit proposals of up to £300,000 (USD$374,000) before October 10th.
The research seeks to advance viable, scalable, and safe solutions for processing, sinking, or storing Sargassum. Solving the Sargassum challenge is pivotal for the Caribbean’s sustainable development and resilience in the face of climate change.
SIDS Advocacy
In preparation for COP28 and the 4th International Conference on SIDS in 2024, the UK Government remains a staunch advocate for SIDS. Their commitment revolves around fostering global consensus to support SIDS in addressing their unique vulnerabilities and building robust economies.
The UK takes a leading role in advocating for systems tailored to small states, including pushing for increased access to climate finance for SIDS within the GCF. Additionally, the UK extends its support to SIDS through its £500 million (USD$624 million) Blue Planet Fund, with initiatives like the £36 million (USD$45 million) Sustainable Blue Economies program.
Recognizing that SIDS are pivotal players in the realm of climate action, the UK acknowledges their crucial role in urging major emitters to take substantive action. The UK is unwavering in its commitment to fulfilling the promises of the Glasgow Climate Pact, including addressing climate finance and tackling loss and damage.
This resolute commitment from the UK underscores the global imperative to combat climate change and assist vulnerable nations on the frontlines of this escalating crisis.
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