‘Bob Brown bank’ saved but climate policy not finalised
THE environmental fund that former Prime Minister Tony Abbott once described as the “Bob Brown bank” will be saved by the Turnbull Government.
The Clean Energy Finance Corporation, which was established to fund clean energy projects, was at risk of being abolished by Mr Abbott, who wanted a ban on investing in wind farms.
It is also believed the Australian Renewable Energy Agency will be transferred from industry to the environment department.
Environment Minister Greg Hunt, who will now handle policy areas, said no decisions had been made about whether there would be any change to climate policy.
His office said departmental changes were still being finalised.
“We’ll be bringing together some of the climate levers of government,’’ he told Sky News.
“(We’ll be) bringing into the environment portfolio the central coordinating role for climate change, but not just climate change, but for innovation and new technology.” Mr Hunt conceded areas such as wind energy would be open for consideration and the Government could have a flexible approach to renewable resources in the future.
“At the moment there’s no change in policy and at the mo- ment I’m not foreshadowing anything there,’’ he said.
Prime Minister Malcolm Turnbull has had a long affinity for tackling climate change and it is expected he may tinker with the policy.
“(Mr Turnbull has had) a deep long history of support for renewable energy. He has had a unique personal history in this space,” Mr Hunt said.
Mr Turnbull lost the Liberal leadership in 2009, while in opposition, because of his support for an emissions trading scheme.