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ARTICLE · 15 SEPTEMBER 2008

Financing The Technical Solutions For Climate Change

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I am writing in respect of Professor Ross Garnaut's presentation at the Paddington Town Hall on Thursday 10 July 2008 on the 'Garnaut Climate Change Review Draft Report June 2008'.

AustraliaEnergy and Natural Resources
Dermot Duncan
Dermot Duncan
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I am writing in respect of Professor Ross Garnaut's presentation at the Paddington Town Hall on Thursday 10 July 2008 on the 'Garnaut Climate Change Review Draft Report June 2008' (the 'Report'). Having recently returned from the United Kingdom where I was working as a Waste and Renewables lawyer for the best part of 7 years, I was very interested to hear Professor Garnaut present an overview of the Report, in particular, the proposed financial drivers for technological change (i.e. bankability).

In the United Kingdom, the bankability of a technology is satisfied if a funder will provide debt/equity funding for a technology (i.e. sign off by its credit committee). One of the core elements of bankability is having a 'proven' technology either currently operating on commercial terms or having satisfied a rigorous demonstration phase.

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