Australia cut all funding for the Green Climate Fund that it helped create, saying it is more effective to deliver climate change funds to sources directly.
As the financial mechanism that underpins the Paris climate agreement, the Green Climate Fund encourages wealthier countries to invest in low-emissions and adaptation projects in poorer countries.
Australia made no specific allocation for the Green Climate Fund in its 2019-2020 budget. It has absorbed A$200 million ($143 million) allocated to international climate change development assistance into the broader aid program.
“We believe we can deliver more effective results for our region ...