CANBERRA — According to the latest climate statistics published by the Organisation for Economic Co-operation and Development, Australia provided $313 million in climate-related bilateral finance for 2018 — but just $42 million was considered a “principal” investment.
OECD data, which is provided in 2018 dollars, shows that Australia’s peak investment occurred in 2011. The following year saw Australia’s principal investment account for 38% of climate-related finance, steadily decreasing to 13% in 2018.
Australian action on climate change has drawn a range of criticism. Calls from the Pacific for more action on climate change, including for Australia to reduce its carbon emissions at home, have been met simply with a redirection of aid to projects considered more climate-friendly. And inaction led to Indigenous Australians making a complaint to the United Nations last year.