The report reveals that the Australian Government must significantly increase its support for global climate initiatives alongside other developed and heavily polluting nations. It shows Pacific communities require greater solidarity from Australia to address the devastating effects of rising sea levels, tropical cyclones, and severe disruptions to ecosystems. 

The decisions made in the upcoming COP29 negotiations will be pivotal in determining whether we can limit global warming to the 1.5°C target set by the Paris Agreement and effectively support communities facing the brunt of climate change impacts. An ambitious goal is needed to prevent global warming exceeding 2 or even 3°C, and to ensure that communities can adapt to climate impacts already here. 

Australia’s climate finance efforts have so far fallen short of its fair share of the global USD 100 billion per year target for 2020-2025, providing only 15% of its fair share based on historic emissions and the strength of Australia’s economy.  

“$11.3 billion in subsidies was paid to the fossil fuel industry in 2023-2024. Even redirecting just some of the subsidies will make significant inroads to Australia’s climate finance fair share and is critical for stability in the Pacific.” said ACFID’s Chief of Policy and Advocacy, Jocelyn Condon.  

Dr. Alex Edney- Browne, ACFID’s Policy & Government Relations Lead says:  

“For years, Pacific Island governments and civil society have asked the Australian Government to step up its action on climate change. This means both implementing a 1.5°C-aligned emissions reduction target and significantly stepping up our provision of climate finance to the Pacific region and to other low-income countries further afield.  

This year’s negotiations on the New Collective Quantified Goal are a crucial opportunity for the Australian Government to demonstrate climate leadership and genuine partnership with the Pacific Islands, by supporting climate finance at the quantity and quality needed to prevent devastating climate impacts. While the volumes of money under negotiation may seem large, they reflect the scale of this global challenge – the greatest challenge humankind has ever faced.”   

The report – Seizing the Moment: A New Climate Finance Goal That Delivers for the Pacific – was authored by Climate Action Network Australia, the Pacific Islands Climate Action Network, the New Zealand Climate Action Network, ActionAid Australia and Oxfam Australia and has been endorsed by more than 50 organisations across Australia, Aotearoa, and the Pacific. 

The report in full can be found here.

For more information or to arrange an interview, please contact Lisa Tadrosse at 0401 721 064 or at [email protected]         

Background  

Australian Council for International Development (ACFID) is the peak body for Australian non-government organisations (NGOs) involved in international development and humanitarian action. ACFID has 129 members across over 90 developing countries, dedicated to alleviating poverty, reducing inequality, supporting environmentally sustainable and inclusive development, and leading efforts in humanitarian emergencies and disaster relief.