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UK govt set to release £3billion into developing economies towards funding green technology schemes over the next 5 years

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The UK govt is set to release about £3billion to developing countries towards funding green technology schemes over the next five years.

The announcement was made known through the UK prime minister Boris Johnson on Tuesday morning during a Cop26 meeting in Glasgow, according to him, it’s expected that the Clean Green Initiative will help to tackle climate change and boost economic growth. He said:- ‘I want to see the UK’s Green Industrial Revolution go global.

The pace of change on clean technology and infrastructure is incredible, but no country should be left behind in the race to save our planet.

‘The climate has often been a silent victim of economic growth and progress – but the opposite should now be true.

Through the Clean Green Initiative, we can help to build back better and greener from the pandemic and put the world on the path to a more sustainable future.’

The money includes £200m for a new Climate Innovation Facility which will support the scale-up of technologies to help communities deal with the impacts of climate change.

This could include projects that support drought-resistant agriculture and sustainable forestry.

Mr Johnson was expected to emphasise the importance of providing climate finance for the developing world at a roundtable meeting with other world leaders at the summit this afternoon.

 

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