Climate Solutions Package and Climate Solutions Fund
On 25 February 2019 the Australian Government announced the Climate Solutions Package, a $3.5 billion investment which maps out how Australia will achieve the final 328 million tonnes of estimated abatement needed to meet our 2030 Paris target.
The Climate Solutions Package includes the Climate Solutions Fund, which provides a further $2 billion to build on the success of the Emissions Reduction Fund and continue Australia’s investment in low-cost abatement.
Through the Emissions Reduction Fund, Australia is investing in helping farmers revegetate degraded land, working with businesses to invest in the adoption of energy efficient business practices and with Indigenous communities in projects involving traditional land management such as savanna burning. The Emissions Reduction Fund has contracted over 190 million tonnes of abatement since 2015.
The Climate Solutions Package also secures Australia’s low emissions future through significant investments in energy infrastructure and a range of new energy efficiency measures for homes and businesses.