UK plans to cut climate finance to poor countries by a fifth despite promising more help

"The UK plans to slash its aid to poor countries stricken by the climate crisis by more than a fifth, the Guardian has learned, despite promises to increase assistance and warnings from campaigners that the move will cost lives and livelihoods. Ministers plan to cut climate finance for the developing world from 11.6bn over the past five years to 9bn in the next five. In real terms, accounting for inflation, this would represent a cut of about 40% in spending power since 2021, when the 11.6bn budget was agreed."

"The slashing of climate aid, imposed by the Treasury, is planned despite recent warnings from the UK's spy chiefs that the collapse of ecosystems overseas, such as the Amazon or the Congo, would inflict serious damage on the UK's national security, including soaring food prices and the risk of war. It also comes just a year after the UK and other rich countries promised to triple global climate finance to the poor world to $300bn a year by 2035, in recognition of the disasters countries are already experiencing."

The UK plans to reduce climate finance for developing countries from £11.6bn over the past five years to £9bn over the next five. Accounting for inflation, this change amounts to about a 40% cut in spending power compared with 2021. The Treasury has imposed the reduction despite intelligence warnings that ecosystem collapse abroad could harm UK national security through food price shocks and conflict risks. The reduction comes a year after rich countries pledged to triple global climate finance to $300bn annually by 2035, and will make that target harder to reach. Campaigners warn the cuts will cost lives and livelihoods and may encourage other countries to renege on commitments.

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