CEFC $1bn funding boost a wolf in sheep’s clothing: Energy expert

Climate Media Centre

CEFC funding boost a wolf in sheep’s clothing: Energy expert

Energy expert Nicky Ison says the Federal government’s $1 billion funding boost for the Clean Energy Finance Corporation is a case of a “wolf in sheep’s clothing”, because the government is also updating CEFC’s legislation to underwrite expensive new gas projects with taxpayer money.
“The government is funding renewable energy, storage and transmission infrastructure updates with one hand, but manipulating CEFC’s legislation to underwrite fossil fuel projects with the other,” said Ison, Director of the Community Power Agency.
Ison said that plans to update CEFC’s enabling legislation to “support suitable projects” is nothing but a ruse to force CEFC to scrap its current internal guidelines that block fossil fuel projects.
“The Clean Energy Finance Corporation already has a wide mandate to fund clean and renewable energy, storage and supporting infrastructure like transmission lines, that will reduce our climate pollution and keep Australians safe from the worsening impacts of climate change, not to spend taxpayer money on underwriting expensive, inefficient and dangerous fossil fuel projects,” said Ison.
“The $1 billion funding boost is just PR spin and a distraction from the government’s attempts to force the national agency for clean energy to fund the dirty fossil fuels.
“The government must abandon its plans to weaken CEFC legislation to have any credible claim to supporting renewable energy and climate action in Australia,” said Ison.
/Public Release.