Countries looking to follow the UK’s leadership and boost their use of clean energy sources will receive millions of pounds to support their switch.
At the COP28 negotiations in Dubai, Energy Security and Net Zero Minister Graham Stuart will announce further details of £140m support to help developing countries achieve net zero while extending access to affordable clean energy and growing their economies.
The funds could provide clean energy for 8.7 million people, create 25,000 jobs in clean energy industries, and cut CO2 emissions by at least 800,000 tonnes.
Transitioning to clean energy sources at home will not be enough to meet net zero
The new funding builds on the UK’s clean energy transition progress at home.
Setting one of the most ambitious 2035 climate change targets of any major economy, the UK has undergone the fastest reduction in greenhouse gas emissions of any major economy – down nearly 50% since 1990.
However, to meet net zero, developing countries also need to reduce their emissions, and the funding announced today will help support this.
Minister for Energy Security and Net Zero, Graham Stuart, stated: “The UK is helping other nations act swiftly to switch to renewable energy and slash emissions on the pathway to net zero, all while creating thousands of new green jobs.
“Backed by an extra £140m, the UK is leading the world in supporting developing countries to unlock innovation and clean tech in this critical decade for our climate.”
To meet net zero globally by 2050, at least a third of the emissions reductions will need to be supported by technologies that are not yet on the market.
Therefore, the UK is working with partners worldwide to accelerate the global green transition, helping make clean energy sources affordable, accessible, and reliable for all.
What other measures will help push developing countries towards net zero?
These measures also follow concerted efforts to help developing countries reduce their emissions and green their electricity grids.
As well as funding to accelerate clean energy sources, the minister also announced key partnerships with countries on various issues to help international efforts tackle climate change.
These include:
- Committing to the Green Public Procurement Pledge alongside Germany, Canada, and the US, which sends a multi-billion-dollar global demand signal to accelerate low-carbon steel, cement, and concrete production.
- Australia and Norway signed the UK-led Clean Energy Transition Partnership, bringing the total membership to over 40 countries and public finance institutions. Both countries have committed to moving international public support away from unabated fossil fuels and towards clean energy sources.
“The UK has always led the global net zero transition. It was the first to sign net zero into law, has cut emissions faster than any other G7 nation, and has led unprecedented engagement with the private sector,” said Rain Newton-Smith, Chief Executive of CBI.
“However, climate change is a global issue with global repercussions, and it’s simply not enough to focus on our own actions.
“This announcement will allow the UK to play an important role in supporting developing countries to make their own transition to clean energy sources.”
