Australia’s Fraser Coast Chronicle reported that a $10 billion Clean Energy Finance Corp was established when the Australian government passed a legislation to provide grants and new government investment to green energy projects.
The government of Australia wants to cut the country’s emissions by 5% counting from the year 2000 to 2020. They also intend to reduce more emissions by as much as 80% by the year 2050. The establishment of the CEFC will aid in achieving those goals.
The Clean Energy Finance Corp wants to attract investments in practical and innovative environmental technologies that will help to reduce the country’s carbon emissions and focus on energy efficiency and renewable energy.
According to the Australian Conservation Foundation economic adviser Simon O’Connor the $10 billion invested in the CEFC could drive as much as $100 billion of private investments in greener technologies.
The creation of CEFC has met a few critics. Here is a video that reports on this somewhat controversial scheme.
For more information visit the Clean Energy Finance Corp Expert Review website
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