In an about-face, Australia joins UN climate fund
Sydney
AUSTRALIA will contribute A$200 million (S$218.7 million) over four years into a United Nations fund to help poor nations cope with global warming, Prime Minister Tony Abbott said on Wednesday, a major policy reversal for the embattled former climate-change sceptic.
The pledge to the Green Climate Fund (GCF) is the latest in a string of stinging policy reversals for Mr Abbott, whose struggling conservative government has hit record low approval ratings. "I've made various comments some time ago but as we've seen things develop over the last few months I think it's fair and reasonable for the government to make a modest, prudent and proportionate commitment to this climate mitigation fund," he said in Melbourne.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Philippines central bank not seeing rate hike despite peso weakness: finmin
Middle East tensions threaten global progress on inflation: World Bank
Heatstroke kills 30 in Thailand this year as South-east Asia bakes
Thailand to appoint former energy executive Pichai as finance minister, sources say
Consumer gulf widens as demand for premium and budget foods grows
‘To the Future’: Saudi Arabia spends big to become an AI superpower