GovWire

The United Kingdom is determined to stand alongside those countries on the frontline of the climate crisis today

And to seize the opportunities of tomorrow.

Because action on climate now is the route towards economic growth

Energy security

Better jobs.

And national security in the long term.

To deliver on the Paris Agreement

And keep 1.5 degrees within reach.

In the first 100 days of my government

We launched Great British Energy to create clean British power

We created a National Wealth Fund to invest in the green industries and jobs of the future

We scrapped the ban on onshore wind

Committed to no new North Sea oil and gas licences.

And closed the UKs final coal power plant at the end of September becoming the first G7 economy to phase out coal power.

In line with the international agreement at COP28 to transition from fossil fuels

and the UKs ambitious goal to be the first major economy to deliver clean power by 2030.

Today I can confirm three months ahead of deadline

The UKs 2035 international target

Our nationally determined contribution

to reduce all greenhouse gas emissions by at least 81% on 1990 levels.

Aligned with 1.5 degrees.

And we urge all Parties

To come forward with ambitious targets of their own

As we all agreed at the last COP.

We will work in partnership

to support other countries to develop their own commitments

And transition through our forthcoming Global Clean Power Alliance

And finance will be its first focus.

We will honour the commitment made by the previous government

to provide 11.6 billioninof climate finance between April 2021 and March 2026.

But we must use public finance as a multiplier

To unlock much more private investment

And reform our international financial institutions.

Today we launch the new CIF Capital Market Mechanism, listed on the London Stock Exchange

With the potential to mobilise up to $75 billion

in additional climate capital for developing countries over the next decade.

Putting the UKs role as a global financial centre

at the service of driving the green finance and green energy transitions.

Climate action is at the heart of this governments mission for the protection and prosperity of Britain and the world.

Writ large across our domestic and international priorities

We are taking the urgent action needed to protect our planet and its people.