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<p>The Prosperity Fund has considered the findings of the report; we are confident
the Prosperity Fund programmes are consistent with the UK government’s commitments,
under the Paris Agreement.</p><p> </p><p>Within the portfolio, there are a considerable
number of programmes where we are working with partner countries to increase their
resilience to climate change, to reduce emissions, and to transition to a sustainable
low carbon economy.</p><p> </p><p>The Fund’s energy related initiatives do not directly
finance oil and gas exploration or production. They aim to help create policy and
business environments that improve energy access, strengthen energy markets, encourage
investment and promote energy efficiency. In turn this will improve energy security,
and enable a faster transition to a cleaner, low carbon economy. This is consistent
with the findings of the Intergovernmental Panel on Climate Change in their Special
Report on the impacts of global warming of 1.5<sup>o</sup>C that oil and gas will
continue to be an essential part of the global energy mix as we transition to a low
carbon economy.</p>
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