ActionAid has welcomed Australia’s funding announcements for the Pacific Resilience Facility and the Green Climate Fund made overnight at COP28, which will provide crucial support for communities on the frontlines of the climate crisis.
ActionAid continues its call for the Australian Government to pledge $100 million to the Loss and Damage Fund at COP28, and to deliver on its climate finance fair share of $4 billion annually.
ActionAid Australia Executive Director Michelle Higelin says:
“Communities across the Pacific are battling the daily realties of a warming planet – more frequent and severe cyclones, droughts and rising sea levels. Australia’s $100 million contribution to the Pacific Resilience Facility will provide urgently needed funds for Pacific Island Nations to scale up climate responses in the face of escalating climate impacts.”
“ActionAid welcomes Australia’s re-engagement with the Green Climate Fund, the world’s leading mechanism for supporting climate adaptation and mitigation. However, a $50 million contribution falls well short of Australia’s fair share.”
“It is vital that this funding is new and additional to existing aid funding. We need to stop diverting funds from poverty reduction and gender equality initiatives.”
ActionAid is disappointed that Australia has failed to step up to the plate and make an ambitious pledge to the Loss and Damage Fund.
“As a member of the loss and damage transitional committee, Australia has been essential in the Fund’s establishment but has so far failed to pledge any funding. If wealthy governments like Australia do not deliver urgently needed resources, there is a risk that the Fund will be an empty shell.”
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