Kashif Assignment
Kashif Assignment
Table of Contents
over a five-year period. But without clear definitions and central control, a patchwork of
initiatives has developed in Australia. The result is growing but fragmented private sector
climate finance.
FINANCIAL COMMITMENTS STILL NON-BINDING
According to a report submitted by the Australian government according to the UNFCCC, the
pledge of one billion Australian dollars is to "support countries in our region and provide
additional funds from the private sector" (DFAT 2016). While this is a reinforcement of efforts
to date, the amount is still well below what, according to most Australian studies, would be a
"fair share" of funding efforts. The illustration on the next page shows a comparison between
Australia's current commitment and estimates of Australia's “fair share” in international funding
for climate change measures in 2020.¹ It is a non-binding political promise and not funding
climate protection in general, private funding in particular is mentioned in Australia's NDC.
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