UK and US Join Forces to Support Developing Nations in Climate Change Efforts

Leading financiers and philanthropists will convene in Windsor this Monday for the Climate Finance Mobilization Forum, aimed at stepping up support for emerging and developing economies in pursuit of a net-zero and resilient transition. .

Event hosted by Energy Security and Net Zero Secretariat Grant Shaps and U.S. Presidential Special Envoy for Climate Change John Kellyaims to accelerate action on climate change by encouraging large-scale investments in line with the goals of the Paris Agreement.

Achieving the goal of net zero emissions by 2050 will require a more than seven-fold increase in clean energy investment in these countries, to over $1 trillion annually by 2030. This estimate only considers clean energy and does not include the investment required to reduce non-emissions. CO2 emissions, fighting deforestation, tackling climate change adaptation and building resilience.

Shaps He stressed the need for cooperation, saying public funding alone is not enough and trillions of dollars in private investment is needed to drive the scale of the transition. The UK is committed to providing £11.6bn of international climate finance, and is joining forces with the US and other key players to attract private investment and scale up global climate action.

“Today, we are uniting with our allies and key enablers to harness this world-leading expertise to the benefit of not only our own economies, but the countries most affected by the impacts of climate change. I will update the King and the President on our current situation.” By unlocking private investment, we are working to put us all on a path to net zero and greater climate resilience. increase.

“Based on the Atlantic Declaration of the United States and Great Britain, today we are not only reducing emissions, but also helping countries achieve safer and cheaper homegrown energy systems, grow their economies and create jobs.”

collective action

Kelly also reiterated the urgency of the climate crisis and the need for collective action involving governments, the private sector and philanthropy.

“The climate crisis is here. It is caused by the constant burning of fossil fuels and will get worse if nothing is done. No government can solve this crisis alone. must work with the private sector and philanthropic organizations to accelerate a resilient transition to net zero.”

Emerging market and developing economies are responsible for two-thirds of the world’s greenhouse gas emissions, and to address climate change and achieve shared prosperity, emerging market and developing economies must Participation is essential. The UK and US stand to benefit economically by helping these countries transition to clean energy and fostering closer ties with high-growth emerging markets.

Recent geopolitical events, in addition to climate change concerns, have highlighted the urgency of transitioning from fossil fuels to safe, affordable and clean energy sources. Mobilizing investment and sustainable efforts from businesses, alongside government efforts, will play a key role in meeting global climate goals and reducing carbon emissions.

speed up action

Raimonas noreika CEO of a climate change technology company heavy finance, He also commented on the importance of concerted efforts to assist developing countries in accelerating their climate action.

“Achieving global climate change goals requires a concerted effort to share investments and ideas to help developing countries accelerate climate action,” Noreika said. “Investments in areas such as stopping deforestation and no-till farming are essential to reducing emissions and building a resilient climate.

“It is great to see world leaders taking the lead, but it is also important that businesses do their part through sustainable initiatives and investments. Investing in the Fund provides a climate-forward route to channel resources into sustainable practices that can have a significant impact on carbon reduction, and to support global efforts.”

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