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Funding Drought Threatens UN Climate Agreement

Australia Says 'No' To $100 Billion Climate Fund


The federal cabinet has ruled that Australia will not sign up to any new contributions, taxes or charges at this week's global summit on climate change, in a significant toughening of its stance as it plans to move within days to repeal the carbon tax. This rules out Australia playing any role in a wealth transfer from rich countries to developing nations to pay them to decrease their carbon emissions. The decision hardens the nation's approach to the UN's negotiations amid a renewed push from less-developed countries this week for $100 billion a year in finance to deal with climate change. --Greg Sheridan, The Australian, 11 November 2013
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