More than US$2 billion committed at UK-US climate finance forum

FINANCE leaders, companies and philanthropies have committed more than US$2 billion to help finance efforts to reduce carbon emissions and boost climate resilience across Africa, Asia and Latin America, a joint UK-US statement said on Tuesday (Jul 11).

The statement, by Britain’s Energy Security and Net Zero Secretary Grant Shapps and US Special Presidential Envoy on Climate John Kerry, followed a Climate Finance Mobilisation Forum held at Windsor Castle, England, with the aim of bolstering private capital flows to emerging economies.

Commitments included a new venture from Builders Vision, Mitsui & Co and Renewable Resources Group Partnership to address the impacts of climate change across critical supply chains in agriculture, natural resources development and energy, the statement said.

These firms will identify at least US$1 billion of initial projects in emerging markets using nature-based solutions, such as regenerative farming and sustainable water management, alongside technology to develop products and systems that reduce negative environmental impacts. REUTERS