“We welcome the recent announcement that the Australian Government will commit $125 million to support the Pacific’s renewable energy transition. This funding will ensure communities in remote areas can get access to clean energy for the first time, significantly enhancing the provision of basic services such education and healthcare as well.
“These are the types of projects Australia can be proud of and should continue to focus on. Real grant-based money that meets community’s needs, not loans that cause debt and must be repaid.
“Australia has a strong reputation in providing grants and funding for climate adaptation to our region, but unfortunately all of its commitments come out of the existing aid budget. To meet the devastating scale of the climate crisis and achieve sustainable development goals, what’s needed is new dedicated funding.
“While this funding for the renewables transition is welcomed, there remains an enormous need for finance to support adaptation to the devastating impacts of climate change happening right now. So far, the scale of Australia’s climate finance is well below our fair share.
“Right now, coal, oil and gas corporations are making billions in profit, pay very little tax, are cranking up energy bills, and are getting off scot-free for their climate destruction. We must make these polluting corporations pay for their climate damages and use the revenue raised to support communities in our region and in Australia to respond to climate change.
“We also call on the Australian Government to set a new global climate finance goal for developing countries that includes funding for recovery from the loss and damage caused by climate change, enabling Pacific countries to cope with the severe impacts of climate change-impacts they had little hand in creating.”
