2 publishers · first seen Wed, 28 Oct 2026 07:00 UTC · updated Wed, 28 Oct 2026 12:57 UTC
The UK has met its target of providing £11.6bn in climate finance to developing countries by 2026, but this was achieved through what experts call 'questionable accounting'. According to Carbon Brief analysis, around £2.1bn of the funds counted towards this goal did not come from new spending but were relabelled from existing funding for development banks, private-sector investment, and aid for war-torn nations. Without these changes, the UK would have fallen nearly £1bn short of its target. The UK government maintains that its accounting changes are consistent with international standards, but critics argue that this approach undermines the credibility of its climate commitments.
The UK pledged to provide £11.6bn in climate finance between 2021 and 2026 as part of its obligations under the Paris Agreement. However, the Conservative government, in 2023, loosened the criteria for what it defined as 'climate' spending, allowing it to meet the target without additional spending. The current Labour government has continued this approach, despite pledging to cut the amount of foreign aid directed towards international climate finance.
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