Government's climate of change

Published: May 15, 2008 - 01:32 PM

Budget includes $2.3 billion to tackle climate change

Wayne Swan's first budget delivered on Tuesday evening included $2.3 billion to tackle climate change.

The big ticket items included in the $2.3 billion which has been allocated to be spent over the next 4 years include a number of initiatives that should help households control their energy and electricity costs and reduce their carbon footprint:

$254 million on Green Loans which are low-interest loans, of up to $10,000 per home, for the installation of green technologies to improve water and energy efficiency. These include solar hot water, insulation, rainwater tanks and grey water recycling.
$148 million to help landlords who rent in the private sector to install insulation in their rental properties. This initiative will not only reduce carbon emissions but should decrease electricity and gas costs for tenants.
$100 million Green car innovation to assist the Australian automotive industry to develop and manufacture low emission vehicles. The industry will have to contribute to the development on a $1 to $3 basis and a further $400 million will be available over 4 years from the 2012-13 budget year.

Also included are the following initiatives for business and the public sector:

$361 million National Solar Schools Plan to provide grants of up to $50,000 to all Australian schools to install solar panels and for energy and water efficiency improvements.
$135 million adaptation to climate change including assisting countries in our region who will be most at risk from climate change factors.
$240 million Clean Business Australia initiatives which includes: $75 million competitive grants program (Climate Ready Program) to incentivise small and medium businesses to innovate to save energy and water and reduce pollution; $90 million Green Building Fund available for businesses to implement energy efficiency measures including to existing commerical offices; and, $75 million to entice manufacturing businesses to improve their processes to reduce emission and save energy and water.
$150 million Energy innovation fund to support the development of clean energy technologies.
$227.5 million Renewable Energy fund for grants to business to develop, commercialise and deploy renewable energy in Australia.
$380.7 National Clean Coal fund to advance fossil fuel technology and clean coal initiatives.

The focus of the climate change measures in the budget has been a combination of initiatives to incentivise businesses to innovate for new energy technologies and support for households, landlords and businesses to invest in more energy efficient structure particularly in existing infrastructure and buildings.

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