UK Steps Up as US Retreats from Climate Finance Commitments in Africa
The UK is increasing funding for sustainable energy projects in Africa as the United States retreats from global climate commitments. To this end, the UK’s development financial institution, UK International Investment (BII), plans to mobilize private capital through cooperation with the financial sector in London. Leslie Marsdorp, the group’s chief executive, said the UK government has provided the group with £100 million in private capital. BII aims to allocate at least 30% of its new commitment to climate financing by 2026. BII’s strategy, and extended to the UK, is in stark contrast to the US under Trump’s leadership, which has withdrawn from the Paris Climate Agreement and cuts foreign aid under Trump.
source: Traffic lights
