UK accused of double counting £500m of aid to meet climate pledge

illuminem summarizes for you the essential news of the day. Read the full piece on The Guardian or enjoy below:

🗞️ Driving the news: The UK government has been accused of double counting £500 million of its aid budget as climate finance, intending to meet its international climate commitments
• This has involved reclassifying existing humanitarian aid to countries like Afghanistan and Yemen as climate-related expenditures

🔭 The context: Under a freedom of information request, it was revealed that funds originally designated for humanitarian work are now being counted towards the UK's £11.6 billion climate finance pledge
• This change follows a reduction in the overall overseas aid budget and an ongoing struggle to meet pledged amounts

🌍 Why it matters for the planet: By redefining what counts as climate finance, the UK may be seen as diluting its efforts against climate change, potentially undermining its credibility and influence in international climate negotiations.

⏭️ What's next: This reclassification may allow the UK to claim it is meeting its climate finance targets without increasing funding, thereby impacting its role and reputation in future climate talks.

💬 One quote: Gideon Rabinowitz, director of policy and advocacy at Bond, stated, “The change of definition means they will be able to reach the target by spending less money than they would have done otherwise through double counting development and climate finance.”

📈 One stat: £1.72 billion - The amount to be added to the UK’s climate aid reporting through the reclassification of existing funds.

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