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Environment, Political

Great gain for protecting our climate: Australia signs global accord to end international public investment in fossil fuels

Solutions for Climate Australia 2 mins read

Climate advocacy organisation Solutions for Climate Australia welcomed yesterday’s announcement that the Australian Government will join a global alliance of countries pledging to stop international public investment in fossil fuels.

The Australian Labor Government yesterday pledged to join 40 other countries, including the United States, the United Kingdom, Canada and Norway, in signing the ‘Glasgow Statement’ - The Statement on International Public Support for the Clean Energy Transition Partnership (CETP), at COP28 in Dubai.

‘We strongly congratulate the Australian government on committing to end international public financing of oil, gas and coal,’ said Dr. Barry Traill, Director of Solutions for Climate Australia.

‘This is a great step forward for Australia. We need to stop investing taxpayers’ money in oil, gas and coal. We know that pollution from fossil fuels is causing disastrous climate change. It is killing people in Australia and globally from climate fueled disasters- increasing weather extremes of floods, fire, drought and storms.’

‘Finance and investment needs to shift rapidly to building new clean renewable energy and increasing energy efficiency. A basic part of that is shifting public taxpayers dollars out of gas and coal. This will help take Australia’s earlier pledge to triple renewable energy into reality.’

‘Australia’s action unfortunately stands in contrast with two of Australia’s largest trading partners and gas financiers- Japan and Korea- whose governments continue to actively lobby and push for greater investments in fossil fuels. This includes supporting projects to expand Australian gas extraction in environmentally sensitive landscapes and culturally irreplaceable sites.’

‘We hope that Japan and Korea will do what is right for humanity, and follow the lead of Australia and other signatory nations to end their destructive, international finance for fossil fuels,’ finished Dr. Traill.


Contact details:

For media comment: 
Dr. Barry Traill 0448 79444 in Dubai


Sophia Walter 0476 260028 (AEDT) 


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