The phrase "sovereign risk" is used liberally
in Australian public debate, most often in relation to established
industries that may be affected by change in federal and state policy. But few
have suffered as much as the still-establishing renewable energy sector, which
has had to deal with constant chopping and changing in government thinking
since the turn of the century.
This has particularly been the case since the election of
the Abbott Coalition government in 2013. With an axe hanging over the renewable
energy target and the abolition of the Labor-Greens carbon pricing scheme,
there was a 70 per cent decline in clean energy investment.
Read the Editorial in today’s Melbourne Age - “Move to clean energy requires smart policy.”
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