One of the biggest questions at next month’s COP29 climate summit in Baku, Azerbaijan, is how to pay for the changes we need to tackle the climate crisis.

We have a good idea about how much money we need to cut climate pollution and better protect people from the increasing impacts of climate change, but what hasn’t been agreed yet is how we find the money.

What has the UK government promised?

The UK government has promised £11.6 billion of climate finance between 2021 and 2026, and people will judge us on whether we keep our promise. There is lots to look out for at this year’s COP29 climate summit, but climate finance and climate justice will be centre stage.

Imagine you get £5 per week pocket money. Now imagine that you are the UK government.

The government takes around £1 trillion per year in taxes.

The government has promised £11.6 billion over five years in climate finance.

In pocket money terms, the government’s climate finance promise would cost you just over a penny per week.