The Coalition’s Great Barrier Reef strategy, funded by cash from the CEFC’s budget, has been met with significant skepticism from various corners and in some cases, outright contempt.
As we mentioned yesterday, the Reef Fund will provide up to $1 billion over 10 years in investment finance for projects in the Reef catchment region that deliver clean energy, reduce emissions and improve water quality. The money will come from the Clean Energy Finance Corporation’s coffers.
The Government envisions projects such as computerised, solar powered fertilising systems, replacing diesel with solar power and the development of regional solar farms being eligible.
Federal Environment Minister Greg Hunt said it was “the largest ever commitment to the health of the reef in Australian history.” Further details on the Reef Fund can be viewed here.
Solar Citizens was particularly scathing of the Fund, saying it was simply “shuffling deck chairs about”.
“No matter what they try and tell the Australian public, this government has no coherent plan for the shift to clean renewable power beyond 2020 – these sort of politically driven, piecemeal policies will end up with us responding to emergencies rather than building a decent plan for our future energy needs,” said Claire O’Rourke, National Director of the group.
Queensland Environment Minister Dr Steven Miles stated new funds were needed as well as the low-interest loans announced.
“The reef needs a lifeline, not a mortgage,” Dr Miles said.
Greens Senator Larissa Waters was not impressed either.
“This is a sneaky attempt by the Turnbull Government to try to distract from the damage it is doing to the Reef by approving coal mines to export out through the Reef and cook its corals,” said Senator Waters.
“All of this money is taken from the Clean Energy Finance Corporation and the government hasn’t specified how much will go to clean energy and how much will go to water quality.”
Mark Butler called it a “con job” and said it provides no new investment, but just a redirection of existing resources.
Australia’s Solar Council said the CEFC has been “raided again”.
“Once again we have seen the Clean Energy Finance Corporation (CEFC) is being used as a piggy bank to fund pet Turnbull Government projects,” the Council stated.
It says the CEFC did not have a legal mandate to invest in clean water projects.
However, perhaps it does in this instance – even if the connection is somewhat tenuous.
