Prime Minister Scott Morrison will announce a $2 billion ‘climate solutions fund’, aimed at tackling climate change and ensuring Australia meets its 2030 emissions reduction target by partnering with remote Indigenous communities, small businesses and farmers.

The PM is expected to unveil the funding package on Monday, announcing $2 billion will be dedicated over 10 years to extend the Emissions Reduction Fund.

“It falls to each generation to provide a road map for our nation’s future – and not just a road map, but a detailed plan that sets out how we will pass the prospect of a brighter future onto the next generation of Australians,” Mr Morrison is expected to say, in announcing the climate solution fund.

Prime Minister Scott Morrison will outline a $2 billion climate change program.

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“I want to focus on our ongoing plan to address climate change, with practical solutions that reduce carbon emissions, while preserving our economic strength and living standards.

“Because as Liberals and Nationals we don’t believe we have to choose between our environment and our economy – this is not an approach that a sensible Government like ours embraces.”

The package is expected to include a suite of projects assisting remote Indigenous communities reduce the number and level of severe bushfires in rural and remote communities. Provisions will also be put in place to assist small businesses replace lighting, air conditioning and refrigeration systems to help reduce energy costs.

Farmers will also be “supported to revegetate degraded land and drought proof farms”, while extra support will be dedicated to helping communities reduce waste and boost recycling rates.

Students rally against the government’s climate change policies in Sydney last year.

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“Our approach is to take care of our environment but also take responsibility to ensure we acknowledge, understand and manage the consequences of our decisions,” Mr Morrison is expected to say.

“We acknowledge and accept the challenge of addressing climate change, but we do so with cool heads, not just impassioned hearts.”

Australia has committed to reducing emissions to 26-28 per cent on 2005 levels by 2030, a milestone the federal government insists it’s on target for.

Australia has committed to reducing emissions to 26-28 per cent on 2005 levels by 2030, a milestone the federal government insists it’s on target for.

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However, several quarterly emissions reports state the country’s greenhouse gas emissions are actually tracking upwards and Australia continued its trend of annual increases for the past four years to June 2018, according to the Global Carbon Project’s December report.

The federal government’s 2018 emissions projections project, published in December, estimated total emissions in 2030 will be 563 million tonnes of carbon dioxide equivalent – about 7 per cent of 2005 levels, and well short of the 26-28 target set out under the Paris agreement.

“Because as Liberals and Nationals we don’t believe we have to choose between our environment and our economy”.

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Last week, Labor accused the government of relying purely on “hope” to meet its emission agreement.

Labor is promising a 45 per cent emissions target by 2030, based on 2005 levels, if elected. It’s also promising $10 billion for the Clean Energy Finance Corporation to invest in renewable energy and energy efficiency across Australia.

Labor has flagged a more ambitious climate action scheme. But it’s been dismissed as too risky by the PM.

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However, Mr Morrison has dismissed Labor’s figures as “reckless”.

“Independent modelling released last week by BAEconomics has confirmed that Labor’s reckless emissions reduction target will put a wrecking-ball through the Australian economy,” he’s expected to say.

“Sure you can have higher targets. But they come at a tremendous cost.”