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
Government committed to combat climate change
Minister for Climate Change and Energy Efficiency Greg Combet and Parliamentary Secretary for Climate Change and Energy Efficiency Mark Dreyfus today welcomed the release of the Mid‐Year Economic and Fiscal Outlook by Treasurer Wayne Swan.
Climate change is of major importance to Australia and the Government is determined to respond in a swift and coordinated way as we move towards our low pollution future.
Today’s Mid‐Year Economic and Fiscal Outlook confirms the Government is delivering on election promises to invest in energy efficiency and renewable energy programs, and by working towards the introduction of a price on carbon.
This is being achieved within the constraints of responsible budgeting and our commitment to return the budget to surplus.
The introduction of a price on carbon is an essential economic reform that will help Australian business, industry and communities to combat the future challenges of climate change.
Government climate change initiatives with funding allocated in the 2010‐11 Mid‐Year Economic and Fiscal Outlook released today include:
- Funding of $45.6 million over four years for the Carbon Farming Initiative to develop methods for
Australian farmers, forest growers and landholders to generate credits that can be sold in domestic
and international carbon markets, receiving income for taking action to reduce Australia’s carbon
- The $80 million Low Carbon Communities program to assist local councils and communities to
reduce carbon emissions and energy costs through energy efficient upgrades to community facilities,
street lighting and council buildings.The program will also support investment in co‐generation
- Implementation of Tax Breaks for Green Buildings, at a total cost of $150 million over four years and
estimated at around $1 billion over the life of the scheme. Through this measure, businesses that
retrofit certain commercial buildings to significantly improve energy efficiency between 1 July 2011
and 30 June 2015 will be able to apply for a one‐off bonus tax deduction;
- $5.2 million over two years to establish the Multi‐Party Climate Change Committee to examine
options for the introduction of a carbon price and assist in building community consensus for action
on climate change; and
- $5.6 million over four years to establish the Climate Change Commission, which will provide an
independent source of information and expert advice to explain the science of climate change,
report on the progress of international action and explain how a carbon price would impact the
TUESDAY, 9 NOVEMBER 2010