The United Kingdom launched on Monday at the UN Conference on Climate Change (COP26) in Glasgow, Scotland, an initiative to help developing countries have access to green technology and a doubling of the UK aid-funded green investments to 3 billion ($4.1 billion) over the next five years, the government said in a statement
LONDON (Pakistan Point News / Sputnik - 01st November, 2021) The United Kingdom launched on Monday at the UN Conference on Climate Change (COP26) in Glasgow, Scotland, an initiative to help developing countries have access to green technology and a doubling of the UK aid-funded green investments to 3 billion ($4.1 billion) over the next five years, the government said in a statement.
"I want to see the UK's Green Industrial Revolution go global. The pace of change on clean technology and infrastructure is incredible, but no country should be left behind in the race to save our planet," Prime Minister Boris Johnson was quoted as saying in the statement released by his office in Downing Street.
"Through the Clean Green Initiative, we can help to build back better and greener from the pandemic and put the world on the path to a more sustainable future," he added.
According to the UK government, the initiative will also help to tackle climate change and boost economic growth in developing nations, while increasing public and private investments in quality, sustainable infrastructure globally.
Part of the new funds unveiled -200 million ($273.6 million) - will be used to create the Climate Innovation Facility, which would seek to "scale-up" of technologies to help communities deal with the impacts of climate change in markets where private investors have been reluctant to take on the risk alone.
Additional amounts of money will also be used to boost investments in climate-related projects in India and across Africa.
