Antinuclear

A new government directive is expected to stop Australia’s “green bank”, the Clean Energy Finance Corporation, from investing in wind and rooftop solar because the federal government does not consider them emerging technologies.

Up until now, small-scale solar reportedly made up about 30 per cent of the projects the CEFC was investing in.

Climate Council chief executive Amanda McKenzie said the changes could impact on those households wanting to buy solar panels.“Unfortunately for households, solar has been enormously popular, so this could have a big impact on that,” Ms McKenzie told news.com.au.

Opposition environment spokesman Mark Butler said the CEFC was being set up to fail.

“The government is effectively bloodletting the CEFC since its attempts to abolish it have been fruitless,” Mr Butler said in a statement today.

The Coalition has already tried twice to axe the $10 billion fund, which actually makes a profit for the government, but failed to get the legislation passed.

“When will he (Mr Abbott) understand the global momentum is outpacing him and he is dragging Australia back?” Mr Butler said.

The latest report follows comments from Mr Abbott earlier this year that wind farms were “visually awful”.

It also seems at odds with sentiment around the world, with many countries stepping up action on climate change including the United States, European Union and China, which have all revealed ambitious greenhouse gas emissions ahead of the Paris climate change talks to be held later this year. Even oil-rich Saudi Arabia, which offers some of the world’s cheapest electricity, is investing in renewables.

Australia has yet to reveal its own carbon reduction targets and last month was described as going from “leadership to free-rider status” on climate action by former UN secretary-general Kofi Annan………….http://www.news.com.au/technology/environment/tony-abbott-accused-of-dragging-australia-back-as-renewables-directive-revealed/story-fnjwvztl-1227440370513