CANBERRA, Feb. 25 (Xinhua) -- The Australian government has announced 2 billion Australian dollars (1.42 billion U.S. dollars) in funding for projects to reduce the nation's carbon emissions.

Prime Minister Scott Morrison on Monday announced the Climate Solutions Fund, a 10-year program to fund projects such as revegetating land, reducing bushfire risk and replacing lighting and refrigeration system.

"We acknowledge and accept the challenge of addressing climate change, but we do so with cool heads, not just impassioned hearts," he said in a speech in Melbourne on Monday.

"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," Morrison said.

"Our Climate Solutions Package will ensure Australia meets our 2030 emissions reduction target, a responsible and achievable target, building on our success in comprehensively beating our Kyoto commitments," Morrison said.