The UK will today announce a multi-million-pound package of
measures to protect the world’s rainforests, encourage investment
in clean energy technologies and help developing countries cut
their carbon emissions.
At COP28 in Dubai, Energy Security Secretary will commit over £85
million funding for initiatives ranging from combating
deforestation to cutting methane emissions and will sign new
clean energy agreements with international partners, including
Brazil, the US and countries across Europe.
The funding includes up to £35 million to protect the Amazon
rainforest through Brazil’s dedicated Amazon Fund, agreed on
Friday. This would be on top of £80 million announced by the
Prime Minister earlier this year, placing the UK among the fund’s
top three contributors.
Other measures include:
-
Backing green enterprise – up to £40
million new funding to expand the UK’s Climate Finance
Accelerator. The Accelerator aims to provide practical ways to
help countries finance and deliver their climate commitments
under the Paris Agreement. For example, this has helped
start-up company Source Global attract £79million of investment
to make hydropanels that use solar energy to produce drinking
water from air moisture. The extra funding, agreed on Friday,
will support up to 750 new low carbon projects in up to 16
countries across Latin America, Africa and Asia between now and
2029.
-
Cutting emissions – £2 million support
for President Biden’s Methane Finance Sprint, alongside the
European Union, Canada, and other international partners.
Contributions to the Sprint will support projects in developing
countries, helping them to reduce emissions in major methane
emitting sectors such as energy, agriculture, and waste. This
is part of a wider £12 million package for the International
Energy Agency’s programme to accelerate the transition to clean
energy.
-
Brazil partnerships – two unique
partnerships between the UK and Brazil to speed up the South
American country’s transition to clean technologies. The
agreements will help Brazil cut emissions from heavy industry,
support the development of hydrogen technologies and leverage
the strength of both countries by bringing together a global
package of financial, technical and other specialist
assistance.
-
Nuclear pledge – the UK will endorse a
global ambition to treble civil nuclear power capacity between
2020 and 2050, alongside other like-minded nations including
the US and France, helping combat climate change and improve
energy security. This builds on the Government’s commitment for
a quarter of the UK’s power to come from nuclear by 2050.
Energy Security Secretary
said:
“The UK is a world leader in the drive to Net Zero, so it is
vital we support our international allies like Brazil in meeting
their climate ambitions.
“That’s why we have pledged up to £35 million to help stop
deforestation in the Amazon, making the UK one of the largest
contributors to the Amazon Fund.
“We will also partner with Brazil at COP28 and draw on our
combined strengths to develop alternative fuels like Hydrogen,
advance green technologies and drive global action to cut
emissions.”
The first agreement with Brazil will boost efforts to cut carbon
emissions from heavy industries including steel, cement and
chemicals – which are set to become responsible for the largest
share of global emissions in the 2030s. Measures to do this will
include implementing new technologies, piloting the use of
alternative fuels and enhancing energy efficiency.
The second will see the UK support Brazil’s National Hydrogen
Programme, which is aiming for a sevenfold increase in research
and development in clean hydrogen-related technologies between
2020 and 2025. This could support multiple sector transitions to
net zero including heavy industry and
maritime.
The COP28 President Dr Sultan Al Jaber is also expected to launch
a 12-month Action Plan under the UK’s COP26-initiated
Breakthrough Agenda – which has become an established part of the
international COP framework.
Alongside a coalition of 56 Governments, led by the United Arab
Emirates, the UK, the US, India, Morocco, Canada, Germany, Egypt
and France, the global Action Plan is designed to accelerate
international collaborative action to lower the cost of clean
technologies in the power, road transport, steel, hydrogen, and
agriculture sectors – and ensure the world is on track to halve
emissions by 2030.