The UK will pay poorer countries compensation for the impacts of climate change for the first time, Rishi Sunak said on his way to the COP 28 summit in Dubai.
Despite his recent decision to abandon some national targets, the Prime Minister will seek to position the UK as a leader in achieving net zero climate change.
He will also hold meetings with Middle Eastern leaders to ease the crisis in the Gaza Strip and find a lasting solution for peace between Israel and Palestine.
But Sir Keir Starmer will also attend the climate summit, where he will argue that the Labor Party is now better positioned to build relationships with allies and provide green leadership.
Ahead of his arrival in the UAE on Friday, Mr Sunak announced the UK government would spend an extra £1.6 billion on climate finance, with the bulk of it going to clean energy projects.
This includes £60 million in “loss and damage” funding – money that goes directly to the countries most affected by climate change despite making only a small contribution to global warming, including small countries in the Pacific and Indian Oceans ocean.
The Prime Minister said: “At previous COP summits, the world made ambitious commitments to limit global warming to 1.5 degrees. But the time for commitment has passed; This is the age of action. We know that the technology and innovation we need to protect the planet is within our reach, from powerful offshore wind farms powering the UK to solar power transforming electricity in Africa.
“The transition to zero emissions should make us all safer and better off. This should benefit ordinary families, not burden them. The UK has been at the forefront of pragmatic, long-term solutions at home – and at COP 28 we will lead international efforts to protect the world’s forests, promote sustainable energy and harness the full power of private finance.”
He will take part in the opening ceremony of the summit, where King Charles will speak. The conference will also be attended by Foreign Secretary David Cameron and Energy Minister Claire Coutinho.
Sir Keir, who will be joined by shadow cabinet ministers Ed Miliband and David Lammy, will pledge to “make Britain the green financial capital of the world” in meetings with global investors and political leaders.
Today he will say Labor will force banks and big corporations to calculate and publish their carbon footprints and develop an emissions reduction plan that is consistent with limiting global warming to 1.5 degrees.
The Opposition Leader said: “For too long, the UK government has sent the wrong signals when it comes to zero results.” stimulate growth.”