UK Announces Landmark $2 Billion Commitment To Green Climate Fund at G20 Summit

'Prime Minister Rishi Sunak announces the UK's monumental $2 billion commitment to the Green Climate Fund (GCF) during the G20 Leaders Summit in New Delhi. This pledge stands as the UK's largest single funding commitment to combat climate change and support developing nations in adapting to its effects.

The Green Climate Fund (GCF), recognized as the world's largest fund of its kind, was established within the framework of United Nations climate change negotiations. Its primary purpose is to facilitate the financial assistance required by economically disadvantaged countries to meet their carbon emissions reduction targets, foster the development of cleaner energy sources, and adapt to the challenges of a warming planet.

In alignment with its commitment to international climate finance, Britain has allocated £11.6 billion (approximately $14.46 billion) between 2021 and 2026.

Sunak's office stated, "Today’s pledge represents a 12.7% increase on the UK’s previous contribution to the GCF for the period of 2020-2023."

Additionally, during the G20 Leaders Summit, Prime Minister Narendra Modi marked the occasion with a tribute at the historic Rajghat. He emphasized the enduring influence of Mahatma Gandhi's principles, which encompass peace, service, compassion, and non-violence. Modi highlighted how these timeless ideals guide the collective vision of diverse nations towards a harmonious, inclusive, and prosperous global future.