Australia is spending $600 million on climate BS??
Greg Combet says so below
Australia understands that strong domestic action on climate change delivers both economic and environmental benefits. That is why Australia already has policies in place to encourage the development of clean energy sources within our economy, as well as a suite of policies to support greater energy efficiency for households and businesses.
My Government is also working to introduce a carbon price into our economy to achieve emissions reductions. No one should underestimate the challenge in Australia to make the economic reform required to reduce carbon pollution. My Government tried 3 times to introduce a carbon price during our last term of Government and was unsuccessful due to political opposition.
However, I reiterate our determination to pursue the introduction of a carbon price into our economy– it is a policy that is firmly in our national interest and one that will contribute to emissions reductions.
Apart from the domestic action we are taking the Australian Government is also endeavouring to play a constructive role internationally.
Today I announced further allocations under the $599 million of Australia’s committed fast start financing. These included:
$15 million to the Adaptation Fund
$169 million in new regional adaptation allocations to the Pacific, South and South-East Asia and Africa
$32 million for REDD+ Initiatives in Indonesia under our International Forest Carbon Initiative
$10 million to the Climate Investment Funds’ Programme on Scaling‑up Renewable Energy in Low Income Countries, and
$10 million to the Partnership for Market Readiness
Australia is delivering on fast start and we will continue to provide regular and transparent information on the delivery of our fast start funds.