# UK refutes claims it is dropping $14.76 billion climate pledge
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2023-07-05
Category: Uncategorized
Category URL: https://financedigest.com/category/uncategorized
Meta Title: UK Refutes Claims of Dropping Climate Pledge
Meta Description: Get the latest updates on the British government's commitment to international climate finance and their efforts to tackle climate change impacts.
URL: https://financedigest.com/uk-refutes-claims-it-is-dropping-14-76-billion-climate-pledgehtml

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# UK refutes claims it is dropping $14.76 billion climate pledge

(Reuters) -The British government said on Tuesday that claims it was dropping its International Climate Finance pledge are false, after the Guardian reported the country was planning to drop its flagship 11.6 billion pound ($14.76 billion) climate funding pledge.

“The Government remains committed to spending 11.6 billion pounds on international climate finance and we are delivering on that pledge,” a spokesperson from the Britain government said.

A document given to the British Foreign Office, which was seen by the Guardian, said “Our commitment to double our international climate finance to 11.6 billion pounds was made in 2019, when we were still at 0.7 \[% of GDP spent on international aid\] and pre-COVID.”

Government officials calculated it would have to spend 83% of the total aid budget on the international [climate fund](https://www.financedigest.com/g7-launches-climate-shield-fund-some-countries-wary.html "G7 launches climate ‘Shield’ fund, some countries wary") to meet the 11.6 billion pound target by 2026. Civil servants wrote that this would “squeeze out room for other commitments such as humanitarian and [women and girls,”](https://www.financedigest.com/the-girl-boss-is-gone-welcome-to-a-new-era-for-women-in-leadership.html "The ‘Girl Boss’ is gone. Welcome to a new era for women in leadership") the Guardian report added.

We spent over 1.4 billion pounds on international climate [finance over the course of the 2021/22 financial](https://www.financedigest.com/revolutionising-finance-exploring-the-impact-of-omnichannel-insurance-on-customer-experience.html "Revolutionising Finance: Exploring the Impact of Omnichannel Insurance on Customer Experience") year, supporting developing countries to reduce poverty and respond to the causes and impacts of climate change. We will publish the latest [annual figures in due course,” the British](https://www.financedigest.com/british-property-portal-rightmove-hikes-dividend-after-annual-profit-jump.html "British property portal Rightmove hikes dividend after annual profit jump") government spokesperson further said.

British Prime Minister [Rishi Sunak’s](https://www.financedigest.com/pm-rishi-sunak-sets-out-priorities-for-britain-responds-to-critics.html "PM Rishi Sunak sets out priorities for Britain, responds to critics") climate policies have come under critique after British international environment minister Zac Goldsmith resigned last week, saying that Sunak was “uninterested” in environmental issues.

Goldsmith said Britain had “visibly stepped off the [world stage and withdrawn our leadership on climate](https://www.financedigest.com/cycling-mens-world-championships-race-interrupted-by-climate-protesters.html "Cycling-Men’s world championships race interrupted by climate protesters") and nature.

Britain’s climate advisers on the Climate Change Committee (CCC) also said last week that the nation has lost its position as a global leader on climate action and was not doing enough to meet its mid-century [net zero target](https://www.financedigest.com/mcdonalds-targets-net-zero-emissions-by-2050-from-meat-to-energy.html "McDonald’s targets net zero emissions by 2050, from meat to energy").

The CCC found that [Britain had fallen behind in areas including improving energy](https://www.financedigest.com/britains-ofgem-to-urge-public-to-reduce-energy-usage-ft.html "Britain’s Ofgem to urge public to reduce energy usage – FT") efficiency in buildings, rolling out heat pumps, curbing emissions from industry and increasing the rate of tree planting, which must double by 2025.

Britain’s [Met Office](https://www.financedigest.com/winter-weather-could-be-mild-german-met-office-dwd-says.html "Winter weather could be mild, German met office DWD says"), its national weather service, said yesterday that last month was the hottest June on record in the country, warning that human-induced climate change was making such temperature records increasingly likely.

($1 = 0.7862 pounds)

(Reporting by Rishabh Jaiswal in Bengaluru; Editing by Josie Kao)


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