The UK International Climate Finance Strategy sets out how the government will deliver on its pledge to double its International Climate Finance (ICF) commitments to £11.6bn between 2021 and 2026, including at least £3bn on development solutions that protect and restore nature. The provision of ICF will be balanced between support for mitigation and adaptation measures. Over the five year period covered by the Strategy, the UK’s ICF will be spread across four key themes:
1. Reducing global reliance on fossil fuels by supporting the acceleration of the transition to clean energy in energy-producing and energy-consuming sectors;
2. The protection, sustainable management and restoration of nature by ensuring that the global financial and economic systems tackle unattainable production and consumption, through supporting governments, central banks, businesses and financial institutions to integrate the value of nature into decision-making processes;
3. Building the capacity of people and communities to adapt and become more resilient to the impacts of climate change, supporting the transformation of systems, and helping countries and communities to address impacts when they occur; and
4. Supporting low-carbon, green and resilient urbanisation to promote sustainable and accessible cities, as well as enabling access to clean and reliable infrastructure.
The Strategy is published alongside Powering Up Britain, including the Net Zero Growth and Energy Security Plans, the 2023 Been Finance Strategy, and the UK’s 2030 Strategy Framework for Climate and Nature Action and collectively form the UK’s response to driving progress on addressing climate change.
