Coalition wants to boost emissions reduction fund – but what did voters get for $2.3bn?

With Scott Morrison’s new environment minister, Melissa Price, flagging a boost in support for the emissions reduction fund – the centrepiece of the Coalition’s much-derided Direct Action climate policy – it is worth revisiting just what taxpayers have pocketed for the $2.3bn that has been spent on their behalf.

The new environment minister, Melissa Price, wants to push
 for increased funding for the emissions reduction fund.

The summarised view among those who have looked into the scheme ranges from “difficult to know” to “not much we wouldn’t have had anyway”.

Designed by the then environment minister, Greg Hunt, to fit the needs of the former prime minister Tony Abbott, the emissions reduction fund pays farmers and businesses to cut carbon dioxide pollution to below what it would otherwise be. It works as a reverse auction: bidders nominate how cheaply they think they can deliver reductions and what are assessed as the cheapest viable projects win contracts. The government buys carbon credits from the successful projects once the cuts are verified.

Read the story from The Guardian by Adam Morton - “Coalition wants to boost emissions reduction fund – but what did voters get for $2.3bn?”

Taxpayers spend $10 million on expert board but still no energy plan

Taxpayers have forked out $10 million to bankroll the expert board responsible for the Coalition’s aborted energy plan, and states that contributed thousands of dollars to developing the policy are now being stonewalled by the Morrison government.

Millions of taxpayer dollars were spent developing
 the now-defunct National Energy Guarantee.

Australia is devoid of a plan to cut carbon pollution from the electricity sector after federal cabinet on Monday night agreed to drop the climate target legislation associated with its National Energy Guarantee.

Prime Minister Scott Morrison has declared the national guarantee dead, dispensing with a year of intensive work undertaken by the Energy Security Board which devised the policy at the government’s request.

Read Nicole Hasham’s story from The Age - “Taxpayers spend $10 million on expert board but still no energy plan.”

Mining firm in talks with government over Clean Energy Finance Corporation oil field funding proposal.

Resources Minister Matt Canavan said carbon
capture and storage can cut emissions and
 retain access to coal-fired power.

The company behind an Australian-first plan to use pollution from power stations to extract oil says taxpayers should help fund the project, despite criticism that it uses an unproven and expensive technology.

The Turnbull government has been in talks with the proponent over the venture, and believes such technologies can lower carbon emissions while keeping coal-fired power stations running.

Read Nicole Hasham’s story from The Age - “Mining firm in talks with government over Clean Energy Finance Corporation oil field funding proposal.”

Government's GHG plege will cost many $billions - climate experts

T

axpayers face a multibillion-dollar bill to meet Australia's new pledge to cut greenhouse gas emissions, a leading industry group and climate experts have warned, casting doubt on how the target would be met if economic conditions decline.

The Abbott government rejected the claims, saying the Emissions Reduction Fund, which pays companies to reduce their carbon pollution, is one of several tools to be used to curb emissions. However, several of those measures are still in their infancy and details have not been finalised.

The government confirmed on Tuesday that Australia will seek to reduce the amount of greenhouse gas released into the atmosphere by 26-28 per cent by 2030, based on 2005 levels.

Read the Age story - “Climate experts warn government will spend billions to meet pollution cutspledge.”