Australia: Australia is set to rejoin the United Nations climate fund, which was introduced to help poorer countries deal with the challenges of global warming.
The UN’s Green Climate Fund (GCF) was set up as part of the landmark 2015 Paris Agreement on Climate Change and has so far approved projects worth nearly $13 billion in 128 countries. In 2018, the ruling right-wing government in Australia withdrew from the initiative after contributing about $127.4 million during its four-year membership.
A spokesperson for Foreign Minister Mr. Penny Wong stated that “Australia recognised the GCF as the most prominent of the world’s climate funds and a lifeline for island nations in the Pacific.” “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 on Pacific priorities,” the spokesperson added.
The Pacific Islands suffer the most due to climate change due to rising sea levels and the more frequent and intense storms that have accompanied higher global temperatures.
“A modest contribution would be made to the fund by the end of the year,” Mr. Wong’s spokesperson remarked, without specifying a figure.
The move comes ahead of a GCF donor conference in the German city of Bonn and reflects the strategic importance of the Pacific to Australia amid Beijing seeking to expand its influence in the region.
GCF Executive Director Ms. Mafalda Duarte called on the fund’s supporters to fully honour its “initial vision and unique potential.” “We’re in this together. The GCF replenishment is an opportunity to show global solidarity.” Ms. Duarte posted on X.
In 2023, the GCF received financial commitments worth billions of dollars from the United Kingdom and Germany, followed by France with a contribution of $1.7 billion.
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