Public financial institutions across China, Japan, and South Korea have bankrolled Australia’s gas projects to the tune of $28 billion (US$21 billion) over the last decade. However, as Prime Minister Scott Morrison joins world leaders at COP26—the 26th United Nations climate summit in Glasgow—environmental groups have decried Australia over its continued inaction in halting coal, gas, and other emissions-generating projects. A report by four environmental research centres across Australia, Japan, and South Korea found that while fossil fuel financing reached the tens of billion between 2010 and 2020, the same financial institutions had invested only $3.26 million (US$2.43 million) into renewable energy projects. The report (pdf) said that while private financial institutions had shied away from lending to fossil fuel projects, overseas government-managed banks hadn’t. “This public financing is often make or break for projects, subsidising or de-risking private financing and thus propping up fossil fuel projects that may not …