Westminster Hall Debate: That this House has considered climate finance for tackling loss and damage
The climate crisis is continuing to devastate countries across the globe, but the worst impacts are felt by the poorest nations who do not have the capacity to cope with the unprecedented impacts of climate change, and who have contributed least towards global emissions.
In 2009 the world's wealthiest nations promised to provide the poorest nations with $100bn in climate finance annually to address their needs, which remains unmet.
The UK committed to spending £11.6bn towards climate finance, yet rumours have circulated about under-delivery and possible cuts. This, alongside cutting the overseas aid budget signals the UK is moving in the wrong direction.
The UK must commit to providing financial assistance to vulnerable nations, whilst being a leader in cutting emissions at home so further impacts are mitigated. This can only be achieved by cutting emissions from across the economy, whilst also ending new fossil fuel developments. Including stopping the largest undeveloped oilfield in the UK: Rosebank.
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