1/ In one corner of the #COP26 forest, we launched a joint statement committing signatories to end international public #fossilfuelfinance by the Dec 2022 and to prioritise $ for the #cleanenergytransition.
2/ This should shift $24bn that has been going into international public support and subsidy for fossil fuels into clean energy. Critically, this will leverage and redirect many $billions more in private finance, delivering clean power to markets around the world...
3/ It's an #inclusive agenda. It’s not just rich nations, but also emerging economies - signalling they want cheap clean power, and to create jobs & investment and avoid #strandedassets. #Gabon #Zambia #Gambia #SouthSudan #Ethiopia #Fiji #MarshallIslands #SriLanka #ElSalvador...
4/ Just two weeks ago we had 16 signatories, now it’s 39! As @barbarapompili said “this proves the value of COPs ...they accelerate action”. We wouldn’t have moved things this quickly without an in-person #COP26: they can speed decision making.
5/ We’ll work through the rest of our @COP26 Presidency to expand this alliance and enact this commitment. 1st step, a seminar next month with @UKEF and @FCDO colleagues to share the #UK’s own experience in 2021 of turning this commitment into policy guidelines and practice.
6/ We hope that we can agree a common approach to implementation, drawing - as relevant - on the spirit of the UK’s own implementing guidelines assets.publishing.service.gov.uk/government/upl…
7/ Done well, this will take a meaningful bite (c40%) out of international $ support for fossil fuels and make more $ available for clean power. Well done @LouBurrows7 *Jim Dippie* and all the dedicated teams in @FCDOGovUK Embassies around the world that pushed this forward. END

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