AUSTRALIA: Climate Solutions Fund

Meta Data
Draft: 
No
Revision of previous policy?: 
No
Draft Year: 
2014
Effective Start Year: 
2019
Scope: 
National
Document Type: 
Plan/Strategy, Other
Economic Sector: 
Multi-Sector, Other
Energy Types: 
All, Other
Issued by: 
Australian Government - Department of Environment
Source: 
Australian Government, Climate Solutions Fund
File: 
Climate Solutions Fund
Overall Summary: 
On 25 February 2019 the Australian Government established a Climate Solutions Fund to provide an additional $2 billion to continue purchasing low-cost abatement, build on the success of the Emissions Reduction Fund and continue the momentum to reach Australia’s 2030 emissions reduction target.
Environment
Pollution control action plans: 
The Climate Solutions Fund offers landholders, communities and businesses the opportunity to run new projects that reduce or remove greenhouse gas emissions from the atmosphere.
Green finance: 
The Australian Government has established the Climate Solutions Fund to continue purchasing low cost-abatement and build on the success of the Emissions Reduction Fund. It aims to deliver a step change to the offsets market in Australia by boosting the supply of Australian carbon credit units (carbon credits).
Governance
National policy structure: 
The Climate Solutions Fund is enacted through the Carbon Credits (Carbon Farming Initiative) Act 2011, the Carbon Credits (Carbon Farming Initiative) Regulations 2011 and the Carbon Credits (Carbon Farming Initiative) Rule 2015.
Energy institutional structures: 
The Department of Industry, Science, Energy and Resources is responsible for Climate Solutions Fund policy design and oversight.