Tuesday, 3 May 2016
That the Senate—
(i) how well positioned Australia is to take advantage of the huge jobs and commercial opportunities from investing in research and development in clean energy technologies,
(ii) That the Australian Renewable Energy Agency (ARENA) is the institution that will enable us to be global leaders in clean technology innovation, and
(iii) That the 2014 Budget proposed $1.3 billion in cuts to ARENA for the financial years 2017-18 to 2021-22 which have so far been blocked but which have caused considerable uncertainty for ARENA; and
(b) resolves That the $1.5 billion of currently legislated funding for ARENA for the financial years 2016-17 to 2021-22 will not be reduced.
The motion by the Greens fails to mention and Turnbull coalition government established the $1 billion Clean Energy Innovation Fund. This will be jointly managed by the Clean Energy Finance Corporation and the Australian Renewable Energy Agency. The fund will support emerging technologies to make the leap from demonstration to commercial development. By offering innovative equity and debt products, the fund will attract better quality projects. This is another example of the Turnbull coalition government providing innovation and new economic opportunities, enhancing our productivity while also protecting the environment and reducing emissions. In contrast, the Greens are only interest in empty rhetoric with no consideration for what will actually drive investment in new energy.