Ending Fossil Fuel Finance, Improving Corporate Transparency Would Support Democracy in Pacific: Research Submission

Stronger climate action and better resource sector governance are two ways in which Australia can partner with countries in our region to promote stability according to a research submission by the Australia Institute to the Inquiry into supporting democracy in our region.

Key Points:

  • Climate action has languished for the last decade and fossil fuel expansion remains government policy, contrary to the requests of our neighbours, who have repeatedly declared that climate change is the greatest security threat.
  • Australia’s mining companies have often undermined security, democracy and stability in the region, including mines in Bougainville and PNG formerly owned by Rio Tinto and BHP”
  • The Australian Government could improve the conduct of resource companies in the region by:
    • Ending Export Finance Australia’s support for mining and fossil fuels
    • Engaging with the global accountability standard the Extractive Industries Transparency Initiative

“To address the long-term impacts of climate change, governments everywhere need to reinvest in policies that enhance social  equity, deliver greater inclusion and counter  the forces that generate division, alienation and marginalisation,” said Allan Behm, Director of the International and Security Affairs Program.

“Australia’s greatest contribution to promoting good governance in our region could be to address our own significant policy challenges, particularly where these directly impact our neighbours as in the case of climate policy and resource sector governance and taxation,” said Bill Browne, Director of the Democracy and Accountability Program.

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