Mark Dreyfus MP

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First Energy Efficiency Program Investments Announced

26 November 2010

The Minister for Climate Change and Energy Efficiency, Greg Combet, and the Parliamentary Secretary for Climate Change and Energy Efficiency, Mark Dreyfus, today welcomed the official signing in Canberra of multi‐million dollar financial agreements between the Australian Carbon Trust and six major organisations.

THE HON GREG COMBET AM MP
Minister for Climate Change and Energy Efficiency

THE HON MARK DREYFUS QC MP
Parliamentary Secretary for Climate Change and Energy Efficiency

JOINT MEDIA RELEASE
FIRST ENERGY EFFICIENCY PROGRAM INVESTMENTS ANNOUNCED

The Minister for Climate Change and Energy Efficiency, Greg Combet, and the Parliamentary Secretary for Climate Change and Energy Efficiency, Mark Dreyfus, today welcomed the official signing in Canberra of multi‐million dollar financial agreements between the Australian Carbon Trust and six major organisations.

“This is the first set of agreements with the Australian Carbon Trust under its Energy Efficiency Program for financing energy efficiency projects throughout commercial buildings across Australia,” Mr Combet said.

“Energy efficiency is an important part of tackling climate change. It is vital for Australian businesses to realise there are cost savings through smarter, cleaner energy usage.”

Mr Combet said the Australian Carbon Trust would invest up to $23.7 million in innovative energy efficiency financing programs with NAB and Eureka Funds Management, Alleasing, Origin Energy, Australia Post and Melbourne City Council.

“These programs will leverage significant private sector finance to achieve cost‐effective energy efficiency improvements for Australian businesses both large and small,” he said.

The Minister said the level of interest in the Energy Efficiency Program was reflected in the Australian Carbon Trust receiving more than 140 applications to participate from Australian businesses and the public sector.

The Prime Minister’s Energy Efficiency Task Group Report, released in October, highlighted the economic benefits of improvements to Australia’s energy efficiency and reductions in greenhouse gas emissions which can be realised.

“By providing finance and advice, the Australian Carbon Trust is helping business to save energy, time and money through energy efficiencies,” Mr Dreyfus said.

The Government will continue its focus on supporting renewable energy technology, encouraging greater energy efficiency in households and industry and the introduction of a carbon price.

26 November 2010


BACKGROUND ON THE AUSTRALIAN CARBON TRUST
The Australian Carbon Trust was established to encourage and promote take‐up of energy efficient technologies and practices to help accelerate the move to a low carbon economy.

To do this, the Australian Carbon Trust will work with businesses to showcase leading edge approaches to energy efficiency investment, initially by providing financing and advice for energy efficiency improvements through retrofitting of commercial buildings.

The financial vehicles being created through the Energy Efficiency Program will enable property owners, business and public sector organisations to access innovative finance solutions for upgrades to energy efficiency equipment.

The Australian Carbon Trust manages two innovative programs:

  • An Energy Efficiency Program to provide finance and advice to eligible businesses and the public sector for the retrofit of commercial properties.
  • The Carbon Neutral Program which provides accreditation for organisations that have products or operations being certified as carbon neutral under the National Carbon Offset Standard.

The Australian Carbon Trust was set up by the Australian Government in 2010 as a company limited
by guarantee, with an independent board of directors. For more information about Australian
Carbon Trust visit www.australiancarbontrust.com.au