The Climate Council welcomes the Labor Party’s commitment to boost the coffers of the Clean Energy Finance Corporation by an additional $10 billion if it wins the next federal election.

“Labor’s policy zooms ahead of the Coalition. This investment would be a huge boost for renewables and jobs and would cut power prices,” said the Climate Council’s CEO, Amanda McKenzie.

“Australia’s green bank provides loans to the private sector. This innovative approach means the Australian public gets a dividend from investing in our future,” she said.

“This coupled with the announcement that a future Shorten government would subside batteries for 100,000 homes with solar is a significant development. Batteries provide a tangible benefit to Australian families,” said Ms McKenzie.  

Opposition Leader Bill Shorten unveiled Labor’s energy policy today ahead of a Federal election where climate change is likely to be a key issue. Mr Shorten reaffirmed the party’s 45% emissions reduction target by 2030 based on 2005 levels.

“An emissions reduction target of 45% across the economy is much better than what we have now.  But it’s not enough. In order to achieve Labor’s proposed target, there needs to be deeper cuts to emissions from the electricity sector.  Greenhouse gas pollution from the electricity sector should be cut by at least 60% by 2030,” said the Climate Council’s Head of Research, Dr Martin Rice.

The Climate Council also welcomed Labor’s announcement it would support communities which are making the transition away from coal.

“We’ve heard hollow commitments from the Abbott, Turnbull and Morrison governments on climate and energy policy and pollution levels have risen for the past three years,” he said.

“Labor’s policy will boost the renewables sector and is significantly better than the Coalition’s when it comes to addressing climate change. This policy is headed in the right direction, but more needs to be done,” he said.

For more information please contact Senior Communications Advisor, Lisa Upton on 0438 972 260.

The Climate Council is Australia’s leading climate change communications organisation. We provide authoritative, expert and evidence-based advice on climate change to journalists, policymakers, and the wider Australian community.

For further information, go to: climatecouncil.org.au

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