Craig's 'Conversation' comment about Clean Energy Finance Corporation

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raig Froome writes on The Conversation about the Clean Energy Finance Corporation.

The Clean Energy Program Manager at The University of Queensland’s Global Change Institute, said: “In defending the federal government’s decision to bar the Clean Energy Finance Corporation (CEFC) from investing in wind and small-scale solar power, environment minister Greg Hunt explained to ABC Radio what he sees as the future direction for the CEFC. He said that the funding was to focus on projects that were “not mature and not commercial”, identifying three main areas as worthy recipients of investment:

-      large-scale solar, including new solar thermal technologies;

-      emerging technologies such as wave energy;

-      measures to improve energy efficiency.

Read Craig’s story - “The Clean Energy Finance Corporation is meant to back winners, not minnows”.

The world is waking up to the real cost of fossil fuels

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rospects for global energy markets have been reshaped by two recent pieces of news, one of which helps to explain the other.

Prof John Quiggin.

The first is a report from the International Monetary Fund (IMF) released on Monday, estimating that global fossil fuel use is subsidised to the tune of US$5.3 trillion a year (6.5% of global GDP).

The second is the continuing decline in coal production and use in China, which began in 2014. The latest reports show April 2015 coal production in China was down 7.4% on April 2014.

To understand the link between the two, it is necessary to look at the way the IMF obtained its estimate.

A Professor, School of Economics at The University of Queensland, John Quiggin, who recently spoke in Melbourne has written on The Conversation about: “The world is waking up to the $5.3 trillion cost of fossil fuels”.