What will happen if we scrap the Clean Energy Finance Corporation?

The Coalition has committed to scrapping the Clean Energy Finance Corporation (CEFC) if elected in this year’s federal election. The CEFC was established to drive innovation through commercial investments in clean energy through loans, loan guarantees and equity investments.

Dylan McConnell from the University of Melbourne, says in an article on The Conversation, “From 2015, the CEFC will have $10 billion to invest in renewable energy, energy efficiency, enabling infrastructure and ‘low emissions’ technology. Half of the fund is quarantined for renewable energy.”

He also adds “scrapping (or even threatening to scrap) the CEFC—currently the main renewable energy deployment policy— would stifle the development of the emerging renewable energy industry in Australia at a decisive point in its development”.

See bit.ly/pKlqAf

Sign up to ReNew‘s monthly eNewsletter and receive a free back issue!

Receive the latest sustainability news, articles, events, giveaways and special deals from ReNew magazine.

We’ll send you ReNew 133 as a free download from our webshop when your sign up has been confirmed. Please check your email account for our confirmation email.