Antinuclear

 It is to be recalled that in 2001, the conservative government introduced the world-first mandatory target for renewable energy. The decision followed scientific warnings of global warming and pressure from the public to act on the ten-year drought…….

During Labor’s seat in power in 2007, laws were passed requiring that 20 per cent of power will come from renewable energy come 2020. The said law stated that fixedRenewable Energy Target of 41,00 gigawatt hours from solar, geothermal and win. This was supported by certified certificates saying that to make renewable energy more usable than coal generators, the RET will be supported by 41 million tons of greenhouse produced from national emissions yearly.

But as Australia waits for the September 14 results, all planned remained hanging in the air.

Nathan Fabian, head of Australia’s Investor Group on Climate Change, said that “We expect changes. We don’t know what they’ll be. But the uncertainty is having a crippling effect on the market. We don’t see any clear long-term policy direction on the climate or energy sector from the opposition. And until that is clear, capital is sitting on the sidelines.”

Mr. Fabian and Australia’s Investor Group on Climate Change had investments with approximately $900 billion in funds – a great risk they fear if the industry suffers because of the change in political seats. The group’s investments include pension funds and major international banks.http://au.ibtimes.com/articles/471478/20130527/renewable-energy-projects-australia-september-14-elections.htm#.UaUITdJwpLs