Australia to contribute $200 million to UN Green Climate Fund

A FEW weeks ago, Tony Abbott was steadfastly refusing to sign Australia up, now his government has done a huge backflip.

Julie Bishop

AUSTRALIA will contribute $200 million to a global fund to help poorer nations tackle climate change.

Foreign Minister Julie Bishop has announced the funding for the Green Climate Fund at the UN climate summit in Lima on Wednesday. The money will come out of the foreign aid budget.

The fund will help developing countries to limit or reduce their greenhouse gas emissions and to adapt to the impacts of climate change.

US President Barack Obama shone a spotlight on the fund in his opening speech at the University of Queensland last month, saying that the US would donate US$3 billion.

“I urge other leaders and major economies, especially at the G20, to come forward with contributions that will sustain this momentum,” Mr Obama said.

At the time Prime Minister Tony Abbott was conspicuous in refusing to pledge an Australian contribution, leaving him out of step with other countries including Japan, Canada and the UK.

After the G20 summit in Brisbane concluded, Mr Abbott said that it was up to countries to address climate change in their own way and he would be “standing up for coal”.

“We are all going to approach this in our own way, obviously, and there’s a range of funds which are there and the fund in question is certainly one of them,” he said at the time.

Today, he said that Australia would pledge $200 million over four years to the UN Green Climate Fund, “consistent with our commitment to play our part in the global response to climate change”.

The money will bring the total international contributions to the fund to US$10 billion, exceeding its target. However, Australia's funds will come out of the country’s aid program.

“All countries should take practical and proportionate steps to take action on climate change while safeguarding economic growth,” Mr Abbott said in a joint statement with Ms Bishop.

“The pledge to the Green Climate Fund will facilitate private sector led economic growth in the Indo-Pacific region with a particular focus on investment in infrastructure, energy, forestry.

“Australia will continue to take effective action against climate change which is consistent with continued strong economic growth, jobs growth and development.”

Australia, with its use of coal-fired power and relatively small population of 23 million, is one of the world’s worst per capita greenhouse gas polluters and has been under increasing pressure to do more to tackle the climate threat.