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Global Wildlife Hotspot for Carbon Reduction and Financing Overview for UK Businesses

 


As governments push environmental action ahead of major climate talks, funding is being provided for global natural hotspots and helping polluted UK businesses cut emissions.

Six major wildlife hotspots across 18 countries, from Western Congo to the Amazon to the Lower Mekong, are funded by the 100 Million Biodiversity Landscape Fund.

The project will work with local residents and communities to protect and restore the landscape, help fight climate change, helping rare species such as elephants and rhinos, mountain gorillas, tigers and jaguars that live there, officials said.

Funds considered official development assistance are part of a nature and climate effort ahead of the important UN Cop26 summit in Glasgow in November.

It was announced by Boris Johnson at the UN General Assembly urging countries to meet their greenhouse gas reduction targets and provide additional cash to help poor countries.

Speaking of the Nature Project, the Prime Minister said: The world’s animal population is rapidly declining faster than at any other time in human history, and precious habitats and species are disappearing from the planet.

We are at a turning point and must act now to change the course of this environmental crisis before it is too late.

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Our Biodiversity Landscapes Fund will invest in six of the most environmentally significant landscapes across 18 countries worldwide to combat climate change and protect rare and endangered species.

International Environment Minister Goldsmith said: There is no way to combat climate change that does not involve the restoration of nature.

He added that the project will help protect habitats threatened by climate change, as well as reduce poverty and create sustainable development for communities.

As a separate measure, the second phase of the Industrial Energy Transition Fund is open for UK companies in large emitting industries to bid for the previously announced 220 million shares to reduce carbon emissions and energy rates.

Grants of up to $30 million are intended to help invest in cleaner technologies such as more efficient boilers, electric motors and heat pumps.

The funding will also provide opportunities for businesses to develop technologies that capture industrial emissions, divert the fuels they use, and recycle waste heat into renewable electricity, the government said.

Johnson said: Through innovation and investment across the economy, we can power the UK’s green industrial revolution.

However, we know that the most polluting and energy-intensive businesses are changing the way they operate. Adding funds will help reduce emissions, lower bills and support good jobs.

The first phase of the $70 million funding will support projects such as improving efficiency, reducing energy consumption and emissions at the Saint Gobain Glass UK plant in North Yorkshire, and Tate & Lyle Sugars’ efforts to cut emissions by 90%. An oil refinery in Silvertown, London.

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