The UK is changing climate finance definitions to meet its target of spending £11.6 billion over the next five years to support developing countries with climate change.
The news comes after rumours the government was planning to drop the pledge after not meeting its targets.
Development minister Andrew Mitchell told the Guardian there will be three changes to meet the target and will “more accurately reflect what the UK spends on climate.”
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Firstly, when allocating humanitarian funds to the poorest 10% of nations, the UK will consider that 30% is allocated to internal climate finance without the need for precise calculations.
This approach, described as careful financial management by Mitchell, aligns with the practices of other major countries involved in aid distribution.
Secondly, the UK will no longer limit its assumption to just 30% of the expenditure from the UK aid investment arm British International Investment, for climate finance. Mitchell said the proportion may indeed be significantly higher.
Thirdly, for the first time, the UK will incorporate its aid expenditure directed towards climate initiatives via multilateral development banks as part of the overall £11.6 billion budget.
Christian Aid chief of advocacy and policy Sophie Powell said the move looked like “an exercise in double counting.”
“As Cop28 nears, where the UK used to lead on climate, it is now lowering the bar at every turn, which is a disaster for the world’s most vulnerable people,” she added.
