Australia to Rejoin the UN’s Global Climate Fund

Australia has signed back up to a global green fund for developing countries after an almost five-year absence. The country was previously a participant in the fund but pulled out of it in 2018 under the former government.

A spokeswoman for Foreign Minister Penny Wong said the government would provide a “modest contribution” to the climate fund before the end of the year.

“We have taken on board feedback from our partners in the Pacific on the best ways to direct our climate finance efforts and ensure all elements deliver for Pacific priorities,” the spokeswoman said.

“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.”

According to the Australian Associated Press, the spokeswoman said the resumption of financing the fund was timely and comes as Australia increases its support for Pacific nations’ transition to renewable energy.

“We are also helping countries access more climate financing from the major multilateral funds, by embedding climate finance experts in eight Pacific Island countries in partnership with the Climate Finance Access Network,” she said.

The decision to rejoin the fund has been welcomed by the Climate Council, with senior researcher Wesley Morgan saying it should have taken place earlier.