UK PM Boris Johnson vows to stop government funding for fossil fuel projects overseas

Ahe of international climate change summit, UK PM Boris Johnson said that Britain is set to end government funding for fossil fuel projects overseas. Previously, Britain has been criticised for sending billions of pounds abro to help extract and refine fossil fuels and build power stations. On December 11, Johnson anunced halt in funding of new crude oil, gas and coal projects before opening climate Ambition Summit co-hosted by Britain, UN and France on Saturday. 

According to Guardian, UK PM said that climate change is one of biggest global challenges and it is alrey costing lives and livelihoods across globe. He ded that his actions as a leer must t be driven by timidity or caution but by ambition on a truly grand scale. “I’m pleased to say today that UK will end taxpayer support for fossil fuel projects overseas a soon as possible,” Johnson said in a statement released by his office. 

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UK PM has been repeatedly accused of hypocrisy because UK continued to fund fossil fuel developments despite preparing to host next round of UN climate talks, Cop26, in Glasgow. However, w, UK’s ban on support for fossil fuel will cover “export finance aid funding and tre promotion for new crude oil, natural gas or rmal coal projects”. latest development will come into force after consultation with industry due to end in February. 

ban will, however, include “very limited expectations” for gas-fired power plants and or projects, within strict parameters that accord with Paris Agreement. According to reports, UK has alrey set a fresh target of cutting emissions by 68 per cent by 2030. On Friday EU member states anunced that y h agreed to strengn ir target for cutting greenhouse gas emissions in next dece, in line with ir long-term goal of net-zero carbon by 2050. 

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Climate Ambition Summit 

Meanwhile, on Saturday, more than 70 world leers will gar online for climate ambition summit to set out free commitments on climate crisis. Under current Paris agreement, commitments by countries are insufficient to meet its goal of keeping global temperature rises below 2C more than pre-industrial levels, which scientists regard as outer limit of safety, with an aspiration to hold rises to more than 1.5C. Under agreement, nations must increase ir targets every five years in line with long-term goal, which means submitting new national plans for cuts y will make between w and 2030. 

(Im: AP) 

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