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UK Halves Contribution to Global Climate Fund After US Pulls $4 Billion Pledge
The world’s largest state-backed climate fund will lose half its funding from the UK following the cancellation of a $4 billion U.S. pledge in 2025. The developments mark a significant reduction in support for the fund from two of its largest historical contributors. @business reported the changes.
May 14, 1:56 PM·1m read1 source
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The world’s largest state-backed climate fund will lose half its funding from the UK, a major setback following the cancellation of a $4 billion pledge from the US last year. @business reported both the UK funding reduction and the earlier US decision.
The combined effect of the UK cut and the prior US action leaves the fund with substantially lower resources from two major donor nations. No further details on the precise timing of the UK decision or remaining funding levels were disclosed.
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