Nigeria to benefit as UK announces £1.62bn climate adaptation fund

The United Kingdom says it will contribute £1.62 billion to the Green Climate Fund (GCF).

The pledge was made at the just concluded G20 summit which held in India.

GCF is the world’s largest climate fund dedicated to supporting developing countries in reducing carbon emissions.

Rishi Sunak, UK prime minister, said the pledge represents a 12.7 percent increase in the nation’s previous contribution to the GCF for 2020 to 2023.

Sunak called on leaders of developed countries to work together ahead of COP28 and support vulnerable economies on the impact of climate change.

“The UK is stepping up and delivering on our climate commitments, both by decarbonising our own economy and supporting the world’s most vulnerable to deal with the impact of climate change,” he said.

“This is the kind of leadership that the world rightly expects from G20 countries.

“And this government will continue to lead by example in making the UK, and the world, more prosperous and secure.”

Also speaking, Richard Montgomery, UK high commissioner to Nigeria, said the country would benefit from the climate adaptation fund.

Montgomery said GCF will tackle poverty, improve food security and support Nigeria’s transition to a sustainable low-carbon economy.

“This recent contribution to the Green Climate Fund makes the UK one of its largest donors,” he said.

“The GCF is expected to deliver for developing countries like Nigeria — supporting a transition to a sustainable low-carbon economy and creation of jobs, promoting food security and tackling poverty.

“Nigeria is vulnerable to and increasingly impacted by climate change, and must be supported to access high quality climate finance proportionate to its size and needs.

“Therefore, we would like to see the GCF actively supporting Nigeria’s ambitious climate goals and working closely with the Nigerian government to facilitate access and utilisation of the fund.”