Fairer Futures: Financing Global Climate Solutions, is a new report led by Oxfam and ActionAid and supported by the Edmund Rice Centre.
How Australia responds to climate change over the next decade will determine the fate of billions of people globally and the stability and prosperity of the Pacific region. In order to contribute its fair share towards global climate solutions, this report makes a number of recommendations, including the following:
- That Australia immediately double its current climate finance to $3billion over 2020-2025, commit an additional $700-$900 million to the Green Climate Fund by 2023 and scale up its share of climate finance to 12$billion annually by 2030.
- That Australia support a standalone finance arm for loss and damage in the United Nations Framework Convention on Climate Change.
- That the Australian government channel fossil fuel subsidies into climate finance.
- That Australian climate finance prioritise locally led, gender-responsive projects.
Please read the full report here.