Turnbull commits to keep CEFC and ARENA

Malcolm Turnbull has added to the growing differences between his administration and the previous Abbott government by reversing Coalition hostility to forward-leaning climate change policy through the creation of a new $1 billion clean energy innovation fund.

And he has bolstered that move with a formal commitment to keep the Clean Energy Finance Corporation, and the Australian Renewable Energy Agency, both of which had been set for abolition under Mr Abbott's leadership.

"Clean energy is central to the government's strategy to address climate change and meet our emissions reduction targets," Mr Turnbull said

The policy is the culmination of extensive background work by Environment Minister Greg Hunt over a period of two months.

Read the story in today’s Melbourne Age - “Malcolm Turnbull's green shift another blow to Tony Abbott.”