Falling Short: Australia's Role in Funding Fairer Climate Action in a Warming World

Australia’s current climate finance commitment is well below its fair share of $4 billion annually, which reflects a wider deterioration in Australia’s commitment to climate action over the last decade. A comprehensive climate policy that strengthens emission reduction targets, alongside a fair approach to climate finance and loss and damage financing, is critical to rebuilding trust across our region and globally in the face of the climate emergency. This report argues that the new Australian Government can signal this policy shift by increasing its climate finance contributions and make a strong commitment on loss and damage financing in the lead up to the United Nations Climate Change Conference (COP27) in Sharm el-Sheikh, Egypt in November 2022.