1  Climate change and development  6

1.1  Observed and expected climate change  6

1.2  Which countries are most vulnerable to climate change?  10

1.3  Climate change and development goals  11

2  UK strategy on aid and climate change  17

2.1  Labour government (2024-present)  17

2.2  Conservative governments (2021 to 2024)  20

2.3  UK International climate finance  21

2.4  British International Investment  23

2.5  New UK bilateral aid and the Paris Agreement  24

2.6  "Nature positive" aid  26

2.7  Is UK aid funding fossil fuels?  27

3  How much overseas aid does the UK spend on climate change?  30

3.1  Headline spending  30

3.2  Which departments spend UK climate aid?  31

3.3  How does UK aid compare internationally?  32

3.4  Which countries does UK aid support?  33

4  Climate aid and multilateral banks  35

4.1  MDBs in the climate finance landscape  35

4.2  How significant are multilaterals to UK aid?  39

4.3  Why spend through multilateral institutions?  40

4.4  What MDB reforms has the UK encouraged?  41