ARENA FUNDING

MARK BUTLER MP.
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4 days ago
ARENA FUNDING
MARK BUTLER MP
While Labor welcomes any additional funding for the Australian Renewable Energy Agency (ARENA), Scott Morrison again has failed to deliver a broad energy policy that will protect the 11,000 renewable energy jobs that the UTS says will be lost without such a policy over the next two years.
 
Scott Morrison has committed just $1.62 billion to ARENA over the next 10 years. Just last month, citing the huge jobs opportunities that would come with a real plan to deliver net zero emissions by 2050, the Australian Industry Group called for $3.3 billion for ARENA over the next decade.
 
Labor established the Clean Energy Financing Corporation (CEFC) and ARENA, we have consistently protected their integrity and will continue to do so.
 
In a letter to the Prime Minister calling for negotiations over a broader energy policy in June, Labor indicated we would support the establishment of separate Carbon Capture and Storage (CCS) funding, as well as the ability for CCS to generate carbon offset credits, but restated Labor’s opposition to a raid on the renewable energy funds of ARENA and the CEFC.
 
Labor will work through the Government’s latest announcements through our usual processes.
 
The Morrison Government won’t be taken seriously on climate change until they follow Labor, every state and territory government, the BCA, NFF, AiG, ACTU, and their own gas and manufacturing adviser Mr Liveris and adopt a target of net zero emissions by 2050.
Energy