Antinuclear

Australian news, and some related international items

The Morrison government manipulates, to paint the coal industry as “clean” and “renewable”

The Clean Energy Finance Corporation has this awkward word “Clean”
The Australian Renewable Energy Agency has this awkward word “Renewable”

How can the those agencies put coal into those categories?     With some difficulty.
My heart goes out to them, -like those poor gardeners in “Alice in Wonderland”  –  forced to paint red all the white roses , lest the Queen should cut off their heads.

Government looks to carbon capture for climate action, The Age By Mike Foley, May 19, 2020 The Morrison government is considering legislative changes to allow its clean energy agencies to fund carbon capture and storage from fossil fuel projects in a bid to unlock $2 billion of private investment to reduce greenhouse gases.

Energy and Emissions Reduction Minister Angus Taylor has accepted 21 of the 26 recommendations from an independent panel reviewing the $2 billion Emissions Reduction Fund, including all those relating to carbon capture and storage.

The panel, chaired by former Business Council of Australia president Grant King, said the government would attract more private investment in the Emissions Reduction Fund if legislation were amended to “enable a method to be developed for carbon capture and storage”.

The King report also recommended an “expanded, technology-neutral remit” for the Clean Energy Finance Corp (CEFC) and the Australian Renewable Energy Agency so they too could attract more private investment in a wider range of technologies outside renewables, such as coal or gas-fired power incorporating carbon capture and storage. This would be a significant change to the remit of the agencies, which were set up to promote the development of renewable wind and solar supplied to the electricity grid.

Carbon capture and storage, which has not yet been successfully implemented on a commercial basis, involves capturing carbon dioxide from industrial processes and transporting it to a suitable storage site for safe, long-term storage deep underground.

Mr Taylor said emissions reduction policy driven by “technology not taxes” would attract significant private investment.

“The government will target dollar-for-dollar co-investment from the private sector and other levels of government to drive at least $4 billion of investment that will reduce emissions across Australia,” he said in a statement accompanying the report’s release.

The Climate Solutions Fund was set up in 2015 with $2.5 billion funding under the Abbott government as an alternative to a carbon tax. It pays polluters to employ cleaner technologies and funds carbon capture through tree planting, soil carbon sequestration on farms and energy efficient systems in commercial properties, as well as methane capture from landfill and waste management.

Last year, the Morrison government topped up the fund with another $2 billion and rebadged it the Climate Solutions Fund. To date, it has issued 450 contracts to abate a cumulative 190 million tonnes of carbon at a total cost of $2.3 billion, or an average of $12 a tonne of carbon…….

Current legislation prohibits CEFC from investing in carbon capture and storage. But changing the legislation would enable the $1 billion Grid Reliability Fund to invest in new gas, hydrogen and coal projects relying on carbon capture.

. ….. https://www.theage.com.au/politics/federal/government-looks-to-carbon-capture-for-climate-action-20200518-p54u4n.html

….

May 19, 2020 - Posted by | AUSTRALIA - NATIONAL, climate change - global warming, energy, politics

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