The Coalition’s attempt to abolish the Clean Energy Finance Corporation (CEFC) is a blind political move that has more justification through rhetoric than rationality. The role of the CEFC is one that will continue to grow, as traditional financial institutions often disenfranchise those wishing to be financed for green projects.
This week, the Australian Senate is considering the government’s package of “carbon tax” abolition bills – bills abolishing the carbon tax, the Climate Change Authority (CCA) and the Clean Energy Finance Corporation (CEFC).
The Senate’s first move was to hold hearings on the abolition of the CCA and CEFC, and to split them off from the rest of proposed legislation. This was a first victory for a combined Greens and Labor vote in the Senate, signalling that the new Abbott government will not have an easy task in dismantling these structures.