Natalie Kyriacou OAM’s Post

I’m so, so disappointed to see that climate change and nature protection was a “loser” in last night’s Australian Federal Budget. Here is a list of the areas (related to climate and nature) that could be (vastly) improved: - Climate spending is expected to fall from $2bn next financial year to $1.9bn, $1.5bn and $1.3bn in the three years that follow and makes up just 0.3% of the total budget, dropping year on year. - Australian fossil fuel subsidies will top $11.6 billion this financial year ($22,000 a minute), an increase of $1.3 billion in the last year - No acknowledgement of the correlation between climate change and Australia’s escalating natural disasters (ie. floods, fires). But $1.75 billion in disaster funding is earmarked alongside another $245 million for flood disaster payment. 6 billion pegged to be needed for disasters in immediate future, with no long-term consideration of worsening state. - “Technology and gas-led” climate solutions (including dirty hydrogen) and prioritisation of unreliable carbon offsets over decarbonisation. - $300 million investment to support LNG and dirty hydrogen - $2.9 billion on a fuel excise that undermines Net Zero premise. For the price of a 22c cut in fuel excise, Australians could have received 290,000 x $10k electric vehicle subsidies. - No mention of electric vehicles. - Research shows that if the federal government spent $2 billion a year for 30 years, we could restore almost all (99.8%) of Australia’s degraded terrestrial ecosystems. Australia is investing just $170 million for threatened species, habitat restoration, and tree planting projects, including $53 million dedicated to koala recovery and conservation. Investment in koalas coincides with government loaning $175m to the Olive Downs coal mine in central Queensland and approval for clearing of around 5,000 hectares of koala habitat at the mine site - Just $26.8 million over 5 years for our national parks to improve conservation and management. Meanwhile, $61 million is being spent on school chaplains over 3 years - The continuation of the $1 billion to build the Great Barrier Reef's resilience to climate change is important. However, this funding is diluted over 10 years and is at odds with the growth of increased investment in fossil fuel industries which are damaging the reef. Some of the more promising budget allocations include: - $83.1 million over 5 years on Australia's waste and recycling capabilities including $60.4 million to boost to the Recycling Modernisation Fund - $636 million Indigenous rangers program - $37.5 million to support native title holders to gain greater economic benefit from their land, as well as $21.9 million for leadership initiatives. - $50 million investment in Microgrids to provide cheaper and more reliable power to remote and regional Australia - $250 million for the Supply Chain Resilience Initiative, and $200 million for the critical minerals accelerator. #budget2022