The Australian Government has pledged $5 million to a US-led initiative to promote clean technology in developing countries.
US Energy Secretary, Steven Chu, yesterday launched the Renewables and Efficiency Deployment Initiative (REDI) at the Copenhagen climate change conference.
The program – an investment of $350 million over 5 years – is a “quick start” initiative to complement the much broader technology and finance mechanisms being developed as part of a global climate change agreement.
Australian Department of Climate Change Secretary, Dr Martin Parkinson, announced Australia’s $5 million contribution to the fund on behalf of the Minister for Climate Change and Water, Senator Penny Wong.
"Australia places great importance on increasing the amount of clean energy, renewable energy, and clean technologies in use throughout the world," Dr Parkinson said.
"We have adopted a renewable energy target for Australia of 20 per cent by 2020 and we are investing $4.5 billion in the Clean Energy Initiative to help develop and commercialise the clean energy technologies Australian and the world needs.
"Australia is also actively engaged in regional and international technology initiatives, such as the Major Economies Forum on Energy and Climate and the Australian-led Global Carbon Capture and Storage institute," he said.
"Our $5 million commitment to Climate REDI builds on this involvement."
Climate REDI will accelerate deployment of renewable energy and energy efficiency technologies in developing countries—reducing greenhouse gas emissions, fighting energy poverty and improving public health for the most vulnerable, particularly women and children.
"More efficient use of cleaner energies will be a vital tool as the world takes action on climate change," Dr Parkinson said.
