{"id":27127,"date":"2022-11-09T13:19:56","date_gmt":"2022-11-09T13:19:56","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=27127"},"modified":"2022-11-09T13:19:56","modified_gmt":"2022-11-09T13:19:56","slug":"uks-climate-adaptation-budget-tripled-to-1-5bn","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/uks-climate-adaptation-budget-tripled-to-1-5bn\/27127\/","title":{"rendered":"COP27: UK\u2019s climate adaptation budget tripled to \u00a31.5bn"},"content":{"rendered":"
On the opening day of COP27, the Prime Minister (PM) revealed that the UK will triple its climate adaptation budget to \u00a31.5bn. This will include new funding for nature, energy, and hydrogen.<\/h2>\n
As well as the tripled climate adaptation fund, the extended budget will welcome \u00a390m of investment into conservation projects, \u00a365m to support local forest communities, and new funding for clean energy innovation.<\/p>\n
Rishi Sunak initially stated that he would not be attending the climate summit; however, he chose to attend and made the announcement at various side events during the summit.<\/p>\n
New measures to support conservation and halt climate change<\/h3>\n
In 2019, government funding for climate adaptation stood at \u00a3500m. Now, it claims this will be raised to \u00a31.5bn by 2025, as part of a broader commitment to spending \u00a311.6bn on international climate finance.<\/p>\n
Furthermore, Sunak held a plenary discussion at COP27 to launch the Forests and Climate Leaders\u2019 Partnership. This new group will consist of 20 nations, who will meet twice a year to track progress towards the Forests and Land Use declaration<\/a>.<\/p>\n