Britain commits £12.6 billion funding by 2025 to tackle climate change

London: British Prime Minister Boris Johnson tells a climate summit on Monday that "there is one minute to midnight and we must act now," as he calls on leaders to go beyond their promises to developing nations and act on "coal, cars, cash and trees."

Johnson, host of the United Nations' COP26 summit, hopes to keep alive the goal of limiting global warming to 1.5 degrees Celsius above pre-industrial levels, the limit that scientists say would avoid its most destructive consequences.

But it won't be an easy task, as Johnson discovered at a meeting of leaders of 20 of the world's largest economies over the weekend. The Group of 20 agreed on the need for "meaningful and effective" action to limit global warming, but offered few concrete commitments.

"Humanity has long run out of the clock on climate change. One minute to midnight and we have to act now," Johnson will say at the opening ceremony, according to excerpts from his speech released by his office.

"If we don't take climate change seriously today, it will be too late for our children to do so tomorrow."

Saying Britain wanted to lead by example, Johnson will commit to increasing the funding the country provides to developing countries, which often face the worst environmental impacts, by £1 billion by 2025 to tackle climate change.

Britain says it has doubled its commitment to International Climate Finance to 11.6 billion pounds over five years in 2019, and the new promise would take it to 12.6 billion by 2025, if the country's economy grows as forecast.

US President Joe Biden has said he wants his country to provide $11.4 billion a year.

At the G20 summit in Rome, Johnson tried to get some countries to agree to do more before the UN meeting.

He called on Italian Prime Minister Mario Draghi to advance his country's climate finance commitments and called on Australia and China to do more to reduce their dependence on coal, the most polluting energy source, if emissions are not captured and stored underground. "We need to move from the talk, debate, and discussion to concerted, real-world action on coal, cars, cash, and trees. No more hopes, goals, and aspirations ... but clear commitments and concrete timelines. for change," Johnson said.

"We need to be realistic about climate change and the world needs to know when it will happen."

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