By Paul Homewood
The Foreign Office sent me this in reply to a query about funding the $300 billion a year promised at COP29:
In essence:
- Miliband signed up to the aid pledge without anybody in government knowing how much the UK would have to fork out, or how we would pay for it.
- Any new commitments will seemingly be funded from our fixed ODA budget – thereby taking money away from other aid provisions. This is in line with current climate aid spending.
- Developing countries who expected new money are in for a shock