A new scheme to funnel £58 billion of private money towards clean energy projects in poorer countries has been launched by the London Stock Exchange Group PLC (LSE:LSEG).
The platform, set up by green finance body the Climate Investment Funds (CIF), will see investment-grade bonds listed on the London market with money earmarked for wind or solar farms in countries struggling to raise enough cash to build them.
At COP 29 on Tuesday, the UK government also committed to cut its own carbon emissions by 81% by 2035.
The 81% cut compared to 1990 levels is in line with the recommendation of the UK's Climate Change Committee last month.
RenewableUK’s chief executive Dan McGrail said the target had been "warmly received by the UK energy sector, which sees it as credible and deliverable".
He said there is a "huge" pipeline of new energy infrastructure to be delivered between now and 2035 to enable the UK to reach the target, and "investors stand ready to make this happen as we’re now seen as one of the most attractive countries for private investment in new projects".