Labor unveils renewables and climate change policy
Source: The Conversation, 27 April 2016
A Labor government would bring in its emissions trading scheme (ETS) in two stages, together with a separate scheme for the electricity sector, under a climate change action plan released by Opposition leader Bill Shorten and climate spokesman Mark Butler on Wednesday.
The plan confirms an ALP government would commit to 45% emissions reduction on 2005 levels by 2030, and pledge to ensure that 50% of Australia’s electricity was sourced from renewable energy by then. Australia’s pledge for last year’s Paris climate conference was to reduce emissions by 26-28% on 2005 levels by 2030.
The funding would include $300 million to assist trade exposed industries to move to a cleaner economy; commit more than $200 million for the Australian Renewable Energy Agency to undertake a solar thermal funding round, and provide about $100 million for a community power network to connect community housing and other projects to renewable energy.
The policy would also allow the Clean Energy Finance Corporation more flexibility for investments in renewables.
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