climate bonds initiative

national emissions have increased each year since the emissions reduction fund replaced the abolished carbon price scheme in 2014

Out on its own: Australia the only country to use climate funding to upgrade coal-fired plants

Experts say allowing Vales Point coal-fired power station to register with the Morrison government’s emissions reduction fund, rebadged this week as a “climate solutions” policy, puts Australia out of step with the World Bank, Europe and the US, which have all rejected using climate financing for coal power retrofits.

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