skip to main content

UK investing too much into fossil fuels and not enough into renewables for overseas aid -11th August

ghf

More than twice as much of the UK’s energy budget for overseas aid this decade has been spent on fossil fuels such as coal, oil and gas rather than renewable energy sources, according to figures from Cafod.

The Overseas Development Institute confirmed the findings by reporting that the UK spent 46% of its £6.1 billion budget on fossil fuels. This compares with just 22% spent on renewable energy between 2010 and 2014.

Cafod firmly believes investment should lie in renewable energy and not in fossil fuels and that the government should be doing more to meet the commitments made in the Paris climate change agreement.

Figures suggest the Department for International Development invested more into renewable energy projects for less economically developed countries, with a total of 32%. However 32% of their funds did also go towards fossil fuels. Aid agencies have claimed that these small-scale renewable energy projects, such as solar farms, are vital to a country’s development and as a means of electricity generation.

The government also agreed to meet the targets of the 2030 UN sustainable goal to provide energy access universally, however currently only 8% of British aid funding in being invested in improving energy for overseas.

ODI figures show the top five beneficiaries of UK energy support this decade were Brazil, Vietnam, Turkey, India and the Russian Federation. Figures also show that of the money intended for fossil fuels, 87% was invested in oil and gas, whilst 9% went towards buying coal.

Back to News

  • © 2014 Community Windpower Ltd
  • Company Registration Number: 04588923
  • VAT number: 845 147 422
Visit our BeGreen Website