Christine Milne (Tasmania, Australian Greens) Share this | Hansard source

Quite right. The Greens do not support the government’s scheme because it is not environmentally or economically efficient. I agree with Senator Boswell that the Australian people need to know what Australia’s approach is to the issue of equity as part of a global agreement. There are two aspects to what is being negotiated. One is the target that we put on the table in Copenhagen. The other is the finance mechanism: how much Australia is prepared to contribute to the global financing. As you would be aware, Madam Chair, I have an amendment to put into the legislation to ensure we do put in financial support for developing countries. Either way, it is going to be required.

As has just been said, the European Union have said that they think €100 billion out to 2020 is probably what is required. They have said recently that €5 billion to €7 billion will be needed per year over the three years from 2010 to 2012 as fast-start finance. I understand that there was a pre-COP ministerial meeting last week. As the minister, you obviously either were there or had your officials there. I note that Japan announced at that fast-start finance meeting a figure of $9.2 billion to 2012. So Japan has put that on the table as its fast-start finance. The European Union have said they think €5 billion to €7 billion would be their fair share in that three-year period. What did Australia put on the table as fast-start finance between 2010 and 2012 at that ministerial meeting?

In the broader context, what does Australia regard as the parameters for judging what our fair share of burden-sharing should be? Are we looking at capacity to pay, a formula for who took early action, a formula on the historic legacy or a formula on population growth? What are the parameters that we are going to be negotiating on to say what our fair share ought to be? I have a very strong view that, if we are not going to cut the mustard in our effort on the target, we will end up quite rightly having to contribute more in terms of the global financing figure. It would be unjust to opt out on both. Senator Boswell is right: people who are following these negotiations want to know what Australia’s position is in putting money on the table for the financing mechanism so that there will be a global deal. Without a fair financing mechanism there will be no global deal.