The Greens - if they hold the balance of power in the next Senate - will insist on a 'financial viability study' before any Federal money goes toward a partial closure of Victoria's brown coal-fired Hazelwood power station, Deputy Leader Christine Milne tells CE Daily.
Coal companies would be the big winners from carbon capture and storage but haven't provided anywhere near enough money to show the technology can work, Shadow Energy and Resources Minister Ian Macfarlane tells CE Daily.
Labor would establish a backdated credits regime for carbon sink forests, following up with rules to create credits from other green carbon and landfill gas activities, while the Coalition would use $400 million from Labor's CCS Flagship scheme to support mining exploration and emissions strategies that 'spread the risk'.
Victoria's Opposition says the Brumby Government's climate bill gives 'unprecedented power' to the State EPA, while State Labor says its proposed large-scale solar tariff could also support geothermal.
There is 'palpable concern' in the U.S. and Europe at the prospect of losing out to China in the race to the green economy, according to Anthony Hobley, global head of climate and carbon finance with law firm Norton Rose.
Victoria's plan to extend its mandatory resource efficiency scheme to cover more businesses is a welcome move, says ClimateWorks Australia chairman and former deputy premier John Thwaites.
