Canberra, 2 November 2021 (TDI): Australia has doubled its international climate finance commitment to $2 billion over the coming five years.
The package will be supporting the developing counties of Indo Pacific region accordingly.
Earlier, the Finance was $1 billion when Prime Minister Scott Morrison added additional $500 million to it in December 2021. By adding more $500 million, Australia reaches to double the figure as compared to the previous five years 2015-2020. On account of increase, Australia has joined US, UK and Canada who had previous finance of $1 billion between 2015-2020.
🇦🇺 is doubling our climate finance for developing countries in the #IndoPacific to $2 billion over 2020-25. This is part of 🇦🇺’s commitment to helping our region adapt to climate change & includes at least $700m to meet the needs of the Pacific: https://t.co/4YFGAfphOc #AusCOP26 pic.twitter.com/o62Yj3Nt9U
— DFAT🇦🇺 (@dfat) November 2, 2021
Australian Premier hinted for an increase of finance from $500 to $700 million through investment. It is Australia’s commitment to support Indo pacific and South East Asian countries to enhance climate resilience for future infrastructure investments, he added.
Australia’s Minster for Foreign Affairs and Minister for Women, Marise Payne called the climate cooperation central to Australian International Relationships. Climate remained key in our bilateral regional or global support as we are the ones who are hurting from it a lot, she added.
Minister for Industry, Energy and Emissions Reduction Angus Taylor noted Australia’s part in global reduction of emissions. Australia remained always supportive to its neighbors, she said. Earlier, Australia also participated in COP26 in Glasgow where the world leaders are gathered to discuss effects of Climate change.
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