UK Government Renews Commitment to the Mitigation Action Facility with £100m Funding
The Mitigation Action Facility is delighted to receive the renewed commitment of the UK Government, as declared by Graham Stuart, UK Minister for Energy, Security and Net Zero.
On Wednesday 20th September 2023, the Minister announced that the UK Government will commit £100m to the Mitigation Action Facility, at the UN Climate Ambitions Summit in New York. The renewed funding covers a three-year period, underscoring the Facility’s pivotal role in sectoral decarbonisation, and signifying a resounding vote of confidence in its mission.
In an official statement, the UK Government emphasised the importance of sector-wide decarbonisation:
“Today’s funding package will support energy-intensive industries in developing and emerging economies to cut their emissions, with backing for measures ranging from deploying clean hydrogen-based fuels for steel production to the creation of biomass-powered refrigeration.”
Where £100m has been committed to the Mitigation Action Facility; a further £55m has been committed to the Clean Energy Innovation Facility; £5.7m to the Nationally Determined Contribution (NDC) Partnership; and, £750,000 to the Global Innovation Lab for Climate Finance.
The Mitigation Action Facility Continues to Make an Impact
In light of the funding announcement, Dr Lasse Ringius, Nepal Country Representative at the Global Green Growth Institute, said:
“The Global Green Growth Institute (GGGI) applauds the UK government’s renewed commitment to fund the Mitigation Action Facility…
We believe the Mitigation Action Facility uniquely combines technical expertise, financial support, and agile project execution, making it ideally suited to advance impactful climate mitigation initiatives globally.”
The Mitigation Action Facility has consistently propelled innovative, people-led mitigation initiatives the world over. Since its establishment in 2012 (as the NAMA Facility), our donor organisations have hitherto collectively invested over €650m into our projects, resulting in a remarkable reduction of more than 10 million tons of CO₂ equivalent emissions.
As we move forward, we are eager to expand our impact, working hand in hand with our dedicated donor organisations to reach even more communities worldwide through our projects. We extend our thanks to all our donors for their unwavering commitment to a sustainable, carbon-neutral future.
You can read the UK Government’s full statement here.
The Rt. Hon Graham Stuart, Minister for Energy, Security and Net Zero made the announcement here (2:56:10 – 2:56:41).