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Australia has rejoined the UN-led Green Climate Fund (GCF) reversing the decision made by then Prime Minister Scott Morrison to leave the fund in 2018 and Oxfam is pushing for the government to give substantial support to our Pacific Nations hit hardest by global warming.
Oxfam media release
The fund was established in 2015 under the UN’s Paris Agreement on climate change as a way to collect money from “first world” or developed countries, like Australia, and use it for climate adaption and/or mitigation in “third world” or developing countries.
Since then it has raised more than $20 billion.
A spokesperson for Foreign Minister, Penny Wong, made the announcement, stating that Australia would be rejoining the Green Climate Fund and making a modest contribution, which will be announced before the end of 2023.
“We recognise that the GCF is the most prominent global climate finance fund, and we will work with partners to improve the GCF’s effectiveness.”
Australia contributed $AU200 million to the GCF between 2015 and 2018. The announcement came in time for the latest GCF donor conference in Germany.
In response to the announcement that Australia will rejoin the global Green Climate Fund, Oxfam Australia Climate Justice Strategic Lead Melissa Bungcaras said: “Oxfam welcomes the announcement yesterday that Australia will rejoin the Green Climate Fund – the major global climate finance fund supporting developing countries to respond to the impacts of the climate crisis.
“Australia has an opportunity to step up its global leadership on climate action by advocating for the Fund to be more effective for the most climate vulnerable countries in our region, particularly in the Pacific, and we stress the importance of listening to the calls of our Pacific neighbours who are disproportionally affected by the impacts of the climate crisis.
“We also welcome Minister Wong’s recent announcement to support technical experts in Pacific Island countries to facilitate access to climate finance. These are positive signs that the Australian Government is listening to our Pacific neighbours.
“Although the Green Climate Fund commitment shows promise, we are concerned that the contribution is described as ‘modest,’ given the increasing need for climate finance contributions to support climate-impacted nations like the Pacific.
“Australia’s international climate finance still remains considerably well below what it should be providing as its fair share.
“Rich polluting nations like Australia need to drastically cut their emissions and provide climate finance to frontline communities so they can adapt to the impacts of climate change, and be compensated for losses and damages they’ve incurred as a result.
“We urge the Labor Government to shape regional and global climate responses by committing an additional $700 – $990 million to the Green Climate Fund as part of its commitment to rejoin.”
