The Courier-Mail

‘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.

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