Some numbers have been run on the 2022 Federal budget on commitments to climate action. The deficit for 2022-23 is expected to be $78 billion, 3.4% of GDP. Just 0.3% of total expenditure (mostly previously announced) has been committed to climate change initiatives, falling lower, to just 0.2% in 2024-2026.  The $1.3 billion of new investment in the budget to "maintain energy security, keep downward pressure on energy prices while reducing emissions, is modest compared to the $5.6 billion on 6 months of fuel excise duty relief. The World Economic Forum estimates US$4-5 trillion is required annually to keep climate change at 1.5 degrees. If Australia invested its share based on GDP, this would translate to around AU$80-110 billion annually   READ MORE