Developed nations more than halfway to climate target

NATIONS across the developed world poured an extra US$10 billion in climate change initiatives last year, a new report has found.

The OECD Climate Finance report showed public and private finance for climate action grew from US$52 billion in 2013 to US$62 billion in 2014.

It means the OECD nations last year reached almost two-thirds of the way to reaching the global target of US$100 billion to be invested in climate change initiatives by 2020.

OECD Secretary-General Angel Gurria said the figures painted "an encouraging picture of progress" but there was "still some way to go" to reaching the target.

The report comes ahead of next month's global climate change talks in Paris, where all United Nations members were expected to confirm commitments to slash carbon emissions.

It also follows Environment Minister Greg Hunt appointing five new board members to Australia's Climate Change Authority this week.

Mr Hunt appointed as chairwoman Wendy Craik, who has worked with the National Farmers Federation and several environmental agencies. He also appointed members with expertise in business and "electricity economics"


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