World’s Biggest Climate Fund Says UK Halves Planned Contribution

The world’s largest state-backed climate fund will lose half its funding from the UK, a major setback following the cancellation of a $4 billion pledge from the US last year.

A spokesperson for the Green Climate Fund, set up by the United Nations, said that UK officials gave notification of impending cuts to the amount the country plans to contribute for the 2024 to 2027 period. It will lower the total to 815 million pounds ($1.1 billion) from an initial pledge of 1.6 billion pounds. The Financial Times reported the funding cut earlier.