The package includes two programmes to help stimulate private sector investment to provide low carbon energy in Africa, a £15 million programme to reduce emissions from cattle ranching and support smallholder farmers in Colombia and a £1.5 million programme to help developing countries to develop strategies to reduce their emissions.
The Green Africa Power project, to which the UK is contributing £98 million, aims to stimulate private sector investment in renewable power generation in Africa, financing approximately 270MW of new renewable energy generation capacity.
In addition, the UK will make a £14 million contribution to the “Get Fit” project which is supporting the development of small-scale on-grid renewable energy projects in Uganda.
The UK is also providing £1.5 million over 2012-2014 to 10 developing countries to share and build on the UK’s pioneering energy scenarios tool, the 2050 calculator.
Arriving in Doha for the UN’s annual climate talks, Secretary of State Edward Davey said: “Climate change is a global threat and with every passing year, the nature and the extent of that threat grows clearer. “Climate finance is fundamental to building resilience and capacity for countries to mitigate and adapt to climate change.”
He added: “Our focus will be on results that make a difference on the ground and we are working with a variety of partners, including developing countries, other donors organisations and the private sector to deliver this.”
The UN hopes to jointly mobilise $100 billion per year by 2020 of public and private finance in developing countries.