Wind farm turbines on the water


Taxes and subsidies

CEF in the media  |  Mar 28, 2024

Eraring extension to cost taxpayers $150m per year

The Australian

Extending the lifespan of NSW’s largest coal-fired power station would cost taxpayers between $120m-$150m a year, a report from a renewable energy think tank has concluded. Read more
CEF in the media  |  Mar 22, 2024

OPINION | Community benefits from renewables can be locked in through local content requirements

Renew Economy

A coalition of business, union, First Nations and community groups are calling for local content requirements to be built into tenders for the Capacity Investment Scheme. A measured, considered domestic content stipulation in CIS tenders will support domestic clean energy and technology supply chains to mature. It can be a valuable tool that underpins investor confidence both into and by Australian companies. Read more
Media Releases  |  Mar 14, 2024

Community benefits can be captured in renewables projects through local content requirements


A coalition including leading union, investor, energy, industry and First Nations peak groups today called on the federal government to embed requirements for locally produced and supplied components into all renewable energy supply chain manufacturing and development. A measured, considered local content requirement (LCR) in CIS tenders will support the domestic clean energy and technology supply chains to mature. Read more
CEF in the media  |  Feb 21, 2024

VIDEO | Can Australia be a renewables superpower?

ABC 7.30

With Laura Tingle on ABC TV’s 7.30, Tim Buckley supports calls by Rod Sims and Ross Garnaut of The Superpower Institute for the federal government to leverage Australia’s generational opportunity be become a zero-emissions trade and investment leader – and for a Carbon Solutions Levy to invest in the clean energy transition. Read more
CEF in the media  |  Feb 6, 2024

BlueScope ‘old’ blast furnace grant slammed by experts

The Australian Financial Review

Climate and energy experts criticised a $137 million federal grant to BlueScope Steel for a $1.15 billion upgrade of its Port Kembla blast furnace – extending coal-based steelmaking for two decades – as a missed chance to spur more ambitious carbon reductions. The Climate Capital Forum, which represents investors, decarbonisation firms and policy experts, said that “while Australia procrastinates, developed world leaders are pivoting”. Read more
Media Releases  |  Jan 31, 2024

Green Steel Supply Chains are Australia’s Top Decarbonisation Opportunity


Allocating taxpayer monies to support BlueScope Steel to invest $1bn to lock in high emissions blast furnace technology for the next 20 years is a missed opportunity according to Climate Capital Forum. Much stronger incentives are urgently needed to reduce – not support new – fossil fuel powered production. Read more
CEF in the media  |  Oct 27, 2023

Albanese’s pittance for critical minerals means Australia’s golden opportunity goes begging

Renew Economy

Our op ed on PM Albanese’s state visit to the US. While the visit was touted as a platform for major announcements on investment into an Australian response to the game-changing Inflation Reduction Act, there was a lot of talk, but only $2bn for Australian critical minerals – entirely insufficient relative to the scale of our opportunity to lead the world in processing of minerals onshore. Read our full analysis. Read more
CEF in the media  |  Sep 13, 2023

Diesel fuel rebate our biggest fossil fuel subsidy. What’s the scam?

Michael West Media

According to a report released today by Climate Energy Finance (CEF), capping the diesel fuel rebate (the Fuel Tax Credit Scheme – FCT) would save $14 billion over 7 years. It could also help to kick-start a mining electric vehicle industry in Australia, including export opportunities. Read more
CEF in the media  |  Sep 13, 2023

Diesel limit will fast-track truck electrification says report


Australian Mine Safety Journal reports that restricting fossil fuel incentives could accelerate the transition towards environmentally friendly alternatives, a study found. “This is not a revenue grab we are trying to encourage them to do the right thing,” Climate Energy Finance Corporation founding director Tim Buckley said according to the Australian Associated Press. Buckley suggested extra taxpayer money should be spent on luring Liebherr, Komatsu, Caterpillar and more to expand their domestic electric vehicle operations. Read more
CEF in the media  |  Sep 13, 2023

Tim Buckley on AusBiz: $100bn new capital in renewables & a diesel rebate cap to reinvest in mine haulage electrification


Tim Buckley told AusBiz that CEF calls for a new $100bn new capital and direct budget investment in renewables and energy transition over the next decade, as a response to Biden’s IRA, with half to focus on domestic electrification and decarbonisation, another half to focus on value-added energy transition materials exports. Part of this could be funded by a cap on the diesel rebate to mining. Read more
CEF in the media  |  Sep 11, 2023

Canberra Times: Climate Energy Finance think tank wants fuel tax credit scheme limited

Canberra Times

The federal government could save $14 billion by capping the fuel tax credit for large mining companies and use the funds to drive the electrification of the sector, think tank Climate Energy Finance says. The fuel tax credit scheme, which allows businesses to claim for tax paid on fuel used to power machinery and heavy vehicles, will cost taxpayers $37 billion by 2030 unless the government sets a limit on how much they can claim, a report by the think tank says. Report co-author Tim Buckley said the tax credit scheme was the nation’s largest fossil fuel subsidy and one of the biggest in the world. Read more
CEF in the media  |  Sep 11, 2023

OP ED | How Australia’s largest fossil fuel subsidy could decarbonise mining

Renew Economy

Fossil fuel subsidies in Australia reached $11 billion in 2022-23, extending decades of direct capital transfers and tax concessions to some of Australia’s most polluting industries and making Australia one of the G20’s largest providers of subsidies for fossil fuels. The scale of the impact to our economy is enormous. The FTCS is the largest fossil fuel subsidy in Australia and is the 18th largest government expense program in 2023-24. The federal government estimates the FTCS will cost over $9.5 billion in tax concessions in 2023-24 alone, with the credits largely going to Australia’s bulk commodity and fossil fuel mining firms. Read more

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