Shadow Climate Change Minister Greg Hunt says the Coalition respects Low Carbon Australia's work, but it will soon be merged into the CEFC – which would be abolished under a Coalition Government.
The climate change department completely underestimated the response that its Energy Efficiency Information Grants Program would generate, contributing to a serious record-keeping deficiency in the first round of grant allocations, says the National Audit Office.
The Gillard Government today welcomed a merger agreement between the $10bn Clean Energy Finance Corporation and Low Carbon Australia, and has appointed carbon lawyer Martijn Wilder as a CEFC board member, along with investment banker Paul Binsted.
Design features specified in the limited information that the Coalition has provided on its Emissions Reduction Fund raise questions about the level of interest the fund would generate and the pace at which it could deliver abatement.
An Xstrata entity has received $65 million, as part of $240 million in grants to help 11 coal mining companies adjust to the carbon price scheme in 2012-13, according to a report to the Senate by the Department of Resources, Energy and Tourism.