Media Releases

CEFC IS FOR RENEWABLES INVESTMENT NOT NEW GAS

September 01, 2020

Labor established the CEFC, we have consistently protected the integrity of the CEFC as a renewable energy financing body, and we will continue to do so.
 
The CEFC has a proven record of leveraging private investment. It has helped drive more than $27 billion in additional private sector investments, and returned more than $718 million to taxpayers since its creation.
 
The Liberals have form in attacking the CEFC. Over the last seven years they’ve tried to abolish it several times and continued to undermine its renewable energy focus.
 
Labor supports the expansion of the CEFC to help deliver a modern electricity grid, but not for gas generation investments that are neither a new technology, nor meet the existing CEFC definition of low-emissions technology.
 
This is the clean energy financing body – not for new gas generation.  
 
We’ll safeguard the financial integrity of the CEFC, to ensure it retains strict safeguards which ensure it only invests in economically viable projects that continue to provide a return to taxpayers.
 
We’ll also block any attempts to turn the CEFC into a personal slush fund by giving new powers to scandal-ridden Minister, Angus Taylor, who has an ideological opposition to renewable energy, and thinks a good use for taxpayer money is expensive new coal-fired power stations. 
 
If the Government is unwilling to accept these sensible amendments to be moved by Labor, we will vote against the Bill.

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