International Climate Finance

Government Statement

Climate change, with its impacts of rising sea levels and increased frequency of extreme weather events, poses an immediate threat to livelihoods and homes worldwide, particularly in the poorest and most climate-vulnerable countries. The International Development Committee’s report highlights the difficulties in delivering on UK's climate finance commitments due to successive reductions in Official Development Assistance (ODA). The report argues for the UK to play a stronger role in climate finance to ensure it is accessible, inclusive, and responsive to the needs of vulnerable countries. It also calls for transparency and focus on evidence in allocating limited ODA climate finance to areas most in need, ensuring that public climate finance complements private investment without undermining poverty reduction efforts. The report stresses the importance of integrating climate finance as an essential part of the UK's global responsibilities under the Paris Agreement, recognising the threat of climate change to sustainable development goals.

Shadow Comment

The shadow member thanked the Chair of the International Development Committee for her powerful speech and highlighted the recent flooding in Nepal, urging all Members to read the Government’s national security assessment on global biodiversity loss and ecosystem collapse. She questioned whether the UK should return to spending 0.7% of GDP on ODA and asked how public funding can complement private investment to address climate challenges.