UK allegedly double counted EUR 500 mn as climate finance

The UK government is under scrutiny for allegedly double counting EUR 500 mn of overseas aid as climate finance, The Guardian reports. Documents obtained through a freedom of information request reveal that humanitarian aid for Afghanistan, Yemen, and Somalia, previously not classified as climate finance, now falls under the category. The reclassification is part of an effort to meet the EUR 11.6 bn international climate finance pledge, which is at risk due to underspending and budget cuts.

Concern over the redefinition: The redefinition of funding would add EUR 1.72 bn to the UK's reported climate aid spending without any new funds being allocated to climate projects, the report adds. Critics argue that because aid is directed to climate-vulnerable countries does not inherently address climate issues. The UK's approach, which counts 35% of its contributions to the World Bank as climate funding, has been met with scepticism from policy experts who question the effectiveness of such measures in addressing actual climate vulnerabilities.