Nearly 200 nations agreed at the UN climate summit to vastly increase climate finance for poorer countries, with a target to triple annual support to around $300 billion by 2035 as part of global commitments made at COP29. However, reports suggest the UK government may reduce its own climate finance contributions from roughly £11.6 billion over the last five years to about £9 billion over the next five, prompting criticism that the move could undermine international trust and hamper adaptation efforts. The UK says it is “modernising” its approach to climate finance to maximise impact, though it has not confirmed the alleged cuts. Critics warn that reducing funding now could damage food security and the UK’s standing with vulnerable nations, whose climate resilience depends heavily on promised support.
Date: February 7, 2026. Source: euronews.com