Australia’s Climate Commission and Clean Energy Finance Corporation

Australia’s Climate Commission and Clean Energy Finance Corporation – what they actually do

Australia needs climate institutions, whoever is in power, The Conversation Frank Jotzo Director, Centre for Climate Economics and Policy at Australian National University 20 Sept 13 “……The first of Australia’s independent climate change institutions to get the axe is the Climate Commission, the agency created by the Labor government to disseminate public information about climate change.

It made its mark with reports about climate change impacts and the scientific basis for prompt action. But it also explained the advantages of carbon pricing and listed mitigation policy actions that other countries are taking, and took its message to many public forums.

It is by no means revolutionary stuff. The fact the incoming government sees the Commission as a problem is an indication of just how deeply politicised the Australian climate debate has become.

Next on the block is the Clean Energy Finance Corporation, which is charged with making co-investments in renewable energy and energy efficiency projects in the commercial sector.

The Corporation has a A$10 billion investment mandate – not a subsidy, but the mandate to invest up to that amount and earn an appropriate return on the investments. The Corporation has been told to stop lending, though whether the government can legally require it to do so before new legislation is passed appears somewhat unclear.

It is slated to be abolished if and when the government repeals the Clean Energy legislation including the carbon price.http://theconversation.com/australia-needs-climate-institutions-whoever-is-in-power-18371