Australia has pledged a further $500 million in climate finance to support developing countries in the region, Prime Minister Scott Morrison has announced.
It brings our total commitment to $2 billion over the next five years, double what it was in the previous five.
The prime minister said Australia wanted to work alongside its Pacific and South East Asian neighbours to “scale up mitigation” and enhance climate resilience.
“Any solution on climate change that is geared only to developed countries does not solve climate change,” Mr Morrison said in a statement.
“We must empower and enable developing countries to industrialise and lift their incomes and standards of living in a new, decarbonised energy economy, as part of our global climate change response.”
Mr Morrison said he hoped it would also drive private sector-led solutions that would support clean tech, jobs and economic growth in the region.
The $2 billion pledge is double what Australia delivered between 2015 and 2020. The UK, US and Canada have also doubled their promises for this next five year period.
As well as the financial commitment, Australia will share scientific expertise and offer assistance with planning water resource management and agricultural practices, the statement read.
“Our commitment will support local communities to better prepare for and recover from disasters, and to address climate-related water and food security challenges,” Minister for Foreign Affairs Marise Payne said.