IIED statement on UK government decision to stop aid for coal investment
“The UK government’s decision to stop providing aid to support coal projects is long overdue and a welcome step in the right direction – but it needs to go further.
“To meet the scale of the climate crisis, it must stop subsidising all fossil fuel exploration and production. And the climate finance it has committed to help developing countries must be geared to meet local people’s priorities and needs in their efforts to develop and thrive in the face of climate change.”
Notes to editors
- Read Prime Minister Boris Johnson’s announcement
- IIED estimates less than 10% – US$1 in US$10 – of the $17 billion climate finance committed from international climate funds by 2016 were prioritised for local-level activities. Read ‘Delivering real change: getting international climate finance to the local level’