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ARTICLE · 12 NOVEMBER 2015

Australian Governments Commit To Renewable Energy

Jones Day
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A directive from the Abbott government to the CEFC not to invest in wind or solar energy has also been quietly dropped.

AustraliaEnvironment
James Parker
James Parker
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In August 2015, Australia submitted its intended nationally determined contribution to the UNFCCC, which included an emission reduction target of 26 to 28 percent (on 2005 levels) by 2030 and a renewable energy target of 23.5 percent by 2020. The cornerstone of Australia's federal climate change policy, the "Direct Action" reverse-auction plan covered in previous editions of The Climate Report, has survived the leadership challenge in September 2015 that saw Malcolm Turnbull replace Tony Abbott as Australia's Prime Minister and leader of the conservative party.

However, there has been a significant change in the federal government's policy with respect to renewable energy investment. Responsibility for Australia's green investment bank, the Clean Energy Finance Corporation ("CEFC"), and the Australian Renewable Energy Agency, has been shifted back to the Federal Department of the Environment in a move widely interpreted as signaling a departure from the

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