UK Pledges Millions to Support Global Clean Energy Transition

The United Kingdom (UK) has pledged to support countries “on the front line of the climate crisis” with funding for the transition to clean energy.

“The funding will help climate vulnerable countries, including African nations and small island states, to develop new low-carbon technologies, with innovations in energy storage, zero emission generators and clean transport,” the UK Department for Energy Security and Net Zero said in a statement.

“It will also support innovations such as material and system efficiencies, which will be instrumental in decarbonizing [the] steel, chemicals, cement and concrete industries,” the agency added.

The country’s pledges announced at COP29 include $56.76 million (GBP 45 million) of funding for the World Bank’s Energy Sector Management Assistance Program (ESMAP) “to support developing and emerging countries [in] addressing energy challenges,” according to the statement.

The funding also includes $18.92 million (GBP 15 million) for Innovate UK to support clean energy innovation in developing countries and $17.66 million (GBP 14 million) for United Nations Industrial Development Organization (UNIDO) to support the development of innovation projects in industrial decarbonization and clean hydrogen.

Further, the UK has allotted $6.31 million (GBP 5 million) to help developing countries tackle methane emissions in their fossil fuels, supporting the delivery of the Global Methane Pledge launched at COP26.

The funding is part of the UK’s existing $14.63 billion (GBP 11.6 billion) International Climate Finance commitment between 2021/22 and 2025/26, which is allocated from the Official Development Assistance (ODA) budget, according to the statement.

Energy Secretary Ed Miliband said, “Climate change does not respect borders, and the UK has seen a year of record-breaking warmth. That’s why we are determined to lead from the front and drive global change, to protect future generations at home and abroad”.

“This funding commitment from the UK is what we mean when we say we are back in the business of climate leadership, supporting the world’s most vulnerable and unlocking the global growth benefits of decarbonizing economies,” Milliband remarked.

Meanwhile, UK Climate Minister Kerry McCarthy said, “Developing countries are often on the front line of the climate crisis, at higher risk of floods, heatwaves, and food insecurity, despite doing very little to cause it”.

“This funding is part of a key priority for us at COP29. It will support the flow of finance to these countries so they can adapt to a changing climate, building resilience and accessing clean energy for their own transition,” McCarthy added. “When the UK acts other countries follow, so we are leading by example to tackle the biggest challenge we face”.

The funding comes after the UK announced a target to reduce its emissions by 81 percent by 2035, the statement said.

Last month, the UK government launched a new scheme to unlock investment opportunities in renewable energy storage technologies.

The Long Duration Electricity Storage (LDES) investment support scheme will “boost investor confidence and unlock billions in funding for vital projects that will help create thousands of jobs and deliver clean power as the country accelerates to net zero,” the country’s Department for Energy Security and Net Zero said in an earlier statement.

LDES technologies work like giant batteries by storing renewable energy and releasing it onto the grid and into homes when needed. This includes pumped storage hydro, which stores electricity by pumping water up a reservoir, to be released later. However, barriers such as high upfront costs have held back investments in the infrastructure, according to the statement.

Investments in the sector could see the first significant long duration energy storage (LDES) facilities in nearly four decades, helping to create backup renewable power and bolster the UK’s energy security, the agency said.

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