Morrison’s $2bn Climate Change Policy

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Mon 25 Feb 2.28pm

Mon Feb 25 2.18pm

Clean Energy Council Chief Executive Kane Thornton said the announcement is no substitute for strong energy policy. 

“Any policy to reduce greenhouse gas emissions which ignores the need to transition our emissions-intensive energy sector – the largest source of emissions in the Australian economy – to clean energy, is not taking the matter seriously. It also misses a golden opportunity to incentivise further private investment, further lower energy prices and create jobs,” Mr Thornton said.

“This new fund will not apply to the energy generation sector. This means that the momentum created by $20 billion of private investment in large-scale renewable energy being built behind the Renewable Energy Target is now at risk. All the incredible expertise and capacity the industry has built could be lost without policy certainty beyond 2020.”

Mr Thornton said the funding for a second Bass Strait interconnector to provide a stronger link between the mainland and Tasmania’s hydro generation, pumped hydro storage and other renewable resources will help to unlock Tasmania’s enormous renewables potential and is very welcome.

Mon Feb 25 1.55pm

Mon Feb 25 1.50pm

The Australia Institute has said the Prime Minister’s announcement to channel $2 billion over ten years to the Emissions Reduction Fund (ERF) falls drastically short of what is required to credibly tackle Australia’s emissions.

“The Emissions Reduction Fund (ERF) will not bring down emissions in the majority of our economy and cannot credibly be considered a centrepiece climate policy,” says Richie Merzian, climate & energy program director at the Australia Institute.

“The ERF is just a warm-up act and we are still – 6 years on — waiting for the main performer.

“The ERF has a useful role in the land and agriculture sector, it is not capable of carrying out the heavy lifting to meet Australia’s fair share of emissions reductions.

“Of all the carbon credits issued by the ERF to date, only 1% were from emission reductions in the heaviest polluting sectors of energy and industry.

“This $2 billion over ten years, is a mere drop in the ocean compared to what must be done to reduce Australia’s emissions – something that cannot be achieved unless big polluters are held to account.”

Mon 25 Feb 1.00pm

Prime Minister Scott Morrison has announced a new climate change policy that includes a $2 billion Climate Solutions Fund that reboots Tony Abbott’s criticised Direct Action Policy.

The Prime Minister’s announcement to channel $2 billion over ten years to the Emissions Reduction Fund (ERF) falls drastically short of what is required to credibly tackle Australia’s emissions.

“The Emissions Reduction Fund (ERF) will not bring down emissions in the majority of our economy and cannot credibly be considered a centrepiece climate policy,” says Richie Merzian, climate & energy program director at the Australia Institute.

“The ERF is just a warm-up act and we are still – 6 years on — waiting for the main performer.

“The ERF has a useful role in the land and agriculture sector, it is not capable of carrying out the heavy lifting to meet Australia’s fair share of emissions reductions.

“Of all the carbon credits issued by the ERF to date, only 1% were from emission reductions in the heaviest polluting sectors of energy and industry.

“This $2 billion over ten years, is a mere drop in the ocean compared to what must be done to reduce Australia’s emissions – something that cannot be achieved unless big polluters are held to account.”

2 billion Climate Solutions Fund that reboots Tony Abbott’s criticised Direct Action Policy.

The policy also includes $56 million towards a new interconnector between Tasmania and the mainland to help build the Battery of the Nation project, and the development of a National In announcing the new policy, Mr Morrison again highlighted the Government’s position that energy and climate initiatives would not come at the expense of increased costs for consumers.

“We will meet our global commitments, and do what is right for our environment, without taking a wrecking ball to the economy.

“We have an obligation to preserve the environment for our children. We also have an obligation to hand over a strong economy, where our kids and grandkids can get jobs.

“We will meet our commitments in practical ways by working with land holders, farmers, businesses and indigenous communities.

“There will be further announcements ahead but as part of the $3.5 billion Climate Solutions Package, we will invest a further $2 billion in the Climate Solutions Fund.”

The Climate Solutions Fund will build on the Emissions Reduction Fund (ERF) which has contracted 193 million tonnes in emission reductions.

The Minister for the Environment, the Hon Melissa Price MP, said that Climate Solutions Fund will ensure the ERF delivers a further 103 million tonnes in emission reductions to 2030. This will make a key contribution to Australia meeting its 26 per cent emissions reduction target under the Paris agreement.

“We are working with people on the ground to reduce emissions and lead real environmental change,” Ms Price said

The new policy has been met with mixed reactions from industry bodies, with many focusing on the fact that it reboots a range of Tony Abbott’s previous policies.

Smart Energy Council CEO, John Grimes, said, “Scott Morrison has topped up Tony Abbott’s Emissions Reduction Fund, maintained Tony Abbott’s emissions reduction target and continued Tony Abbott’s contempt for action on climate change.”

“We are facing a climate change emergency and we need to do whatever we can to increase our solar and renewable energy generation.”

“Renewables increase competition, slash costs, and deliver clean energy.”

“Instead of fast tracking the connection of renewables, Scott Morrison’s answer is to lock in failed policy, and say we will meet our targets ‘in a canter’”.

You can find the full policy at www.pm.gov.au Electric Vehicle strategy.

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