Prime Minister Scott Morrison has announced a $2 billion boost to the scheme that pays big polluters not to pollute.

Mr Morrison says the money will go towards the ‘Climate Solutions Fund’, which some see as a rebranding of the Abbott government's “direct action” Emissions Reduction Fund.

The fund covers a range of carbon abatement programs from vegetation management to energy efficiency and transport.

Mr Morrison says it will let Australia meet its 2030 target of a 26 to 28 per cent reduction on 2005 levels.

“That's no slouch of a commitment or achievement,” he said in Melbourne.

“We will continue to play our part in meeting the global challenge of climate change in the 21st century and we can hold our heads high in what we are doing.

“And we will not, and I will not, allow others to talk down what Australia is achieving in this area.”

The new funding should reduce emissions by 103 million tonnes by 2030.

Labor says it would scrap the fund if it wins the election.

Conservationists say the fund is not enough to tackle the looking threats of a changing climate.

“Especially while the federal government continues to facilitate new coal mines and considers using public money to fund new coal-fired power stations,” the Australian Conservation Foundation's Gavan McFadzean said.