climate solutions fund

emissions from a coal fired power station

Budget 2019: Coalition cuts climate solutions fund by $70m a year

The $2bn promised for Australia’s greenhouse gas abatement projects will be spread over 15 years, not 10, Tuesday’s budget revealed. The Coalition plans to spend its $2bn “climate solutions fund” over 15 years, not 10, as promised when it unveiled the rebadged emissions reduction policy in February.

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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