Here are the climate-related sections of speeches by MPs during the Commons debate UK Aid Policy: Global Funding Trends.
09:50 Beccy Cooper (Labour)
The United Kingdom is not alone in reducing aid spending—the United States, France, Germany and Canada are all scaling back their commitments—but that does not make our choices less significant; it makes them more significant. When every major donor retreats at the same time, there is no one left to step into the gap, and yet the challenges we face today do not stop at national borders. Conflict, climate change, forced displacement, pandemics and antimicrobial resistance affect us all. Investment overseas is increasingly an investment in our own security and prosperity here at home.
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10:14 Noah Law (Labour)
I do share my hon. Friend’s concern. In a time of constrained resources, there is a bit of a knee-jerk reaction to move everything into the multilateral space to get more bang for our buck but, as we have seen, it is not as simple as that. One does have to be wary when trying to make that money go further. I am glad that there are examples, particularly on the climate finance front, of where our Government have stepped up to ensure we maintain the agenda of the multilateral development banks.
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10:27 Monica Harding (Liberal Democrat)
What about climate change? When harvests fail through drought or flooding, malnutrition sets in, communities fight for pasture and people migrate. In May, the Government broke their pledge on the Green Climate Fund by announcing a cut of 50%, while their new international climate finance target of over £6 billion of public money, which I note is committed over three rather than five years, also seems to be a reduction.
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10:54 Chris Elmore (Labour)
We will prioritise multilateral organisations in the ODA budget, where the international system is required to deliver at scale and with legitimacy. We are backing the most efficient parts of the multilateral system to multiply our investment. For example, we are prioritising multilateral development banks, which are the largest source of development and climate finance and are able to lend to partner countries on the most affordable terms. That includes the World Bank’s International Development Association, where each £1 we invest unlocks £4 of additional finance, and where we have increased our contribution by 40%. It also includes the African Development Fund. Our £650 million contribution will allow it to leverage up to £1.6 billion in grants and concessional loans, including by issuing bonds on the London stock exchange for the first time.
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