Climate Solutions Fund - Emissions Reduction Fund
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. The additional funding ensures Australian farmers, businesses and Indigenous communities continue to have opportunities to undertake emissions reduction projects that provide local benefits.
Activities supported through the Emissions Reduction Fund provide important environmental, economic, social and cultural benefits for farmers, businesses, landholders, Indigenous Australians and communities. The Emissions Reduction Fund is established on the principles of reducing emissions at lowest cost and purchasing genuine and additional emissions reductions.
In 2014 the Government invested $2.55 billion in the Emissions Reduction Fund to boost agricultural productivity, support jobs for Indigenous communities, improve biodiversity and water quality, and reduce greenhouse gas emissions.