British International Investment
The question
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, how much of British International Investment’s new investments were counted as international climate finance in the last financial year.
Answered by Anneliese Dodds
In 2023, British International Investment (BII) provided £449 million in climate finance, representing 37 per cent of all commitments. This includes supporting the growth of companies providing solar-powered irrigation systems for smallholder farmers, battery-swapping businesses for electric vehicles, and Sierra Leone's first large-scale solar project to be connected to the grid.
BII's 2024 Annual Review will be published in July 2025 and will include its audited climate finance break down for 2024 commitments. BII publishes its investments, including whether they qualify as climate finance on its website (https://www.bii.co.uk/en/our-impact/search-results/) and in its Annual Review.
The Government has agreed that BII should ensure that at least 30 per cent of its commitments between 2022-26 count as climate finance. In the first two years, 42 per cent of commitments have qualified.
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