Federal Opposition calls out Scott Morrison after he pledges $1b fund for emissions reduction start-ups
The Morrison government has made its second big promise of the week, including additional funding, but not every one is happy about it.
Environment
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The Federal Opposition has called out Scott Morrison after the government said it will move to legislate a $1 billion fund to encourage investment in Australian companies to develop new low emissions technology.
In its second green policy announcement of the week, the government will provide $500 million to the Clean Energy Finance Corporation, with the ‘green bank’ to raise the other half from the private sector before the new fund launches.
Confirming the announcement in Melbourne on Wednesday, Mr Morrison said the fund could support technologies including carbon capture and underground storage, improved solar panels, livestock feed to reduce methane emissions and more efficient batteries.
The federal government recently committed to a net zero greenhouse gas emissions by 2050 target and has underpinned much of its strategy on technology that hasn’t been invented yet.
The Coalition has rebuffed calls to phase out coal and declined to ramp up its 2030 targets, but it has promoted carbon capture and storage, gas and hydrogen as solutions.
Mr Morrison released a joint statement with Energy Minister Angus Taylor ahead of the announcement on Tuesday night, saying their government would introduce legislation in this term of parliament to establish the fund.
He and Mr Taylor say they expect the fund to earn a positive return for taxpayers.
Mr Taylor said the technology fund would support fledgling Australian companies to develop their intellectual property.
He said there was a currently a gap in the Australian market, where complex, technology-focused start-ups could be considered to be “too risky” to finance.
Mr Morrison and Mr Taylor were in Melbourne earlier on Tuesday to spruik their new electric vehicles policy, with $250m to install charging stations and other infrastructure in a bid to get 1.7 million low and zero emission cars on the road by 2030.
Mr Morrison savaged Labor’s proposal back in 2019, accusing the party of trying to force Australians to give up their petrol-run cars.
Opposition leader Anthony Albanese on Twitter labelled Mr Morrison a hypocrite and that he has “been caught out lying about his lies”.
“In 2019 he said Labor and our electric vehicle policy would ‘end the weekend’, now he’s trying to tell Australians that he never said that,” Mr Albanese said.
Speaking on Sky News, Mr Albanese called out Mr Morrison for being “all about style and all about spin” surrounding his climate policies.
“Firstly, Scott Morrison didn’t take this policy to Glasgow because a bit like his EV (electric vehicle) policy it lacks a great deal of substance. It’s all about style and all about spin,” he told Peter Stefanovic.
“Now he comes back after the conference, he’s announcing policy. If he could have landed any of his 20 energy policies, we’d know about that now.
“If the Prime Minister comes forward with serious policy, without trying to talk about the Clean Energy Finance Corporation, the very body he tried to abolish, as if he is now a supporter, it’s a bit like his EV policy.
“It fails the laugh test. He’s hoping that people are goldfish, and they don’t remember what happened just two years ago.”
“This government cannot be taken seriously when it comes to climate action,” Mr Albanese said.
“The Australian people know that. This is a Prime Minister who pretends he has not history in all of these issues.
“And the history of this is, he tried to abolish the Clean Energy Finance Corporation, he tried to abolish ARENA, he tried to abolish the renewable energy target, he opposed electric vehicles, he opposed all of the new technologies that he talks about.
“And still with the announcements, there is a lack of substance.”
Scott Morrison has been caught out lying about his lies. pic.twitter.com/lOaeF8eL8W
— Anthony Albanese (@AlboMP) November 10, 2021
Mr Morrison continues to refuse to release the modelling underpinning his government’s plan to achieve net zero emissions by 2050 despite criticism that the policies lack credibility.
On Monday, when he was asked by reporters when it would be released, Mr Morrison repeated the word “soon” but gave no indication of a time frame.
Last month, he told parliament the report would be released following his trip to Glasgow for the COP26 climate summit.
Mr Morrison returned to Australia last week.
Originally published as Federal Opposition calls out Scott Morrison after he pledges $1b fund for emissions reduction start-ups
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