Australia as a developed nation, a member of the G20 countries, has strongly supported multilateral approaches to global issues. This includes on climate diplomacy and climate Action. Foreign Minister Senator Penny Wong today announced that Australia would rejoin the Green Climate Fund.

This fund is an integral part of the Paris Climate Agreement and Australia was a foundation member and co-chaired the fund in the early years helping to establish transparency and accountability governance principles.

Prime Minister Scott Morrison unilaterally withdrew Australia from this fund in 2018 during a radio interview with Alan Jones, with Australia’s obligations and commitments ending in 2019.

At last Foregin Minister Senator Penny Wong has heeded the many calls for Australia to rejoin the fund since Labor came to power in May 2022. We were the only developed nation not a member of the Fund. That was embarrassing

Foreign Minister, Senator Penny Wong outlined the change in comments to the Sydney Morning Herald on 5 October.

“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,” Wong 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.

“At the same time, Australia is supporting the Pacific’s transition to renewable energy and is helping countries build climate resilience.”

Sydney Morning Herald

The Green Climate Fund has a second replenishmment round pledging conference in Bonn on 5 October. Many Countries have already made substantial pledges ahead of the conference.

We are yet to see what Australia’s ‘modest’ commitment will be. Rejoining the Green Climate Fund is a very positive start.

Reports in recents years – such as Falling Short: Australia’s role in funding fairer climate action in a warming world (PDF) (Action Aid/Oxfam et al Sept 2022) – have highlighted that Australia has not been pullng its weight on climate finance when compared to other developed nations.

References:

Matthew Knott, The Sydney Morning Herald, 5 October 2023, Australia rejoins global climate fund, reversing Morrison decision https://www.smh.com.au/politics/federal/australia-rejoins-global-climate-fund-reversing-morrison-decision-20231005-p5e9xh.html

John Englart, Climate Citizen, 8 November 2022, Australia a laggard on climate finance. Will it promise more at COP27, support a Loss and damage facility? https://takvera.blogspot.com/2022/11/australia-laggard-on-climate-finance.html