Revealed: UK relied on £2bn of ‘questionable accounting’ to hit its climate-aid goal

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Briefings

UK climate finance spending was reported to meet a 2026 target of £11.6bn, but analysis reveals nearly £2.1bn came from reclassifying existing aid rather than new spending. This accounting method, which expanded the definition of 'climate finance' to include development banks and aid for war-torn nations, resulted in a £924m shortfall if the changes were removed. The UK government claims this aligns with international standards, while critics argue it undermines aid credibility and cuts corners to meet headline targets.

Key points

The UK reported meeting a 2026 climate finance target of £11.6bn, but analysis shows approximately £2.1bn came from reclassifying existing aid rather than new spending.

Without these accounting changes, cumulative UK climate finance would have reached only around £10.7bn by 2026, leaving a shortfall of £924m.

Context

Carbon Brief analyzed UK government data using FOI requests to reveal that the UK met its 2026 climate finance target of £11.6bn through reclassifying existing funds rather than new spending. This accounting method expanded the definition of 'climate finance' to include development banks and aid for war-torn nations, resulting in a £924m shortfall if the changes were removed.

Limitations

Analysis relies on government data and FOI requests, with specific figures for 2025-26 not fully disclosed. The UK government denies the use of questionable accounting, and the IDC chair notes the data underlines concerns about eroded additivity and credibility of climate finance.

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