Britain, which is co-hosting the virtual summit in advance of climate negotiations in Glasgow next year, has been criticized for funding oil and natural gas projects abroad, despite their efforts to address climate change. Prime Minister Johnson stated that taking bold action now will lead to job creation, economic recovery from COVID-19, and protection of the environment for future generations. Over 70 world leaders, including those from China, India, Canada, and Japan, are expected to announce more ambitious climate commitments at the summit. Britain is set to become the first major economy to stop public financing for overseas fossil fuel projects, a move praised by Louise Burrows of consultancy E3G as setting a new standard for serious climate action. Britain has been given the authority to encourage other countries to do the same. The UK Export Finance agency has provided guarantees worth billions of dollars to support the expansion of British oil and gas companies in various countries, including Brazil, Iraq, Argentina, and Russia. Critics have targeted Prime Minister Johnson for UKEF's involvement in a large liquefied natural gas project in Mozambique. The government has announced a new policy that will end state support for overseas oil, natural gas, and coal projects, with few exceptions for gas-fired power plants that meet strict criteria aligned with the Paris agreement.