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Written question asked by Wendy Morton (Conservative) on Wednesday, 10 June 2026, in the House of Commons. It was due for an answer on Monday, 15 June 2026. It was answered by Chris Elmore (Labour) on Thursday, 18 June 2026 on behalf of the Foreign, Commonwealth and Development Office.

Climate Change: Finance

Question

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, how much of the £1 billion climate initiative announced at the Global Partnerships Conference will be funded from existing ODA budgets; and how much will constitute new expenditure.

Answer

British International Investment (BII) will invest over £1 billion over the next five years through a new climate initiative called British Climate Partners (BCP), expected to unlock an additional £3.5 billion in private capital over the lifetime of the investments.

This initiative will mobilise investment to support the clean energy transition in high emitting emerging markets with an initial focus on Asia. The majority of funding for the initiative will come from BII's existing assets, although Official Development Assistance funding to BII will also support it.

On other matters the Rt Hon Member asked about, details of the Global Research and Technology Development (GRTD) portfolio and its anticipated impact can be found on the Dev Tracker website and in the GRTD Approach Paper published on GOV.UK; and Communities of Expertise activities are embedded within wider programme and research spending - rather than managed under a standalone budget line or business case - which enables UK and global experts to be brought together to respond to partner country priorities, as and when required.

Secondary information

Type
Written question
Reference
8591
Session
2026-27
Grouped for answer
Yes
Subjects
Climate change Finance
Contains statistics
Yes
Link
View this Written question on www.parliament.uk