LABOR AND ARENA - STATEMENT FROM MARK BUTLER

Date:  05 May 2016

Labor created ARENA and we will continue to support it. This evening Bill Shorten made it very clear that real action on climate change will create new jobs and attract international investment. This will be driven by the renewable energy revolution “the jobs of the future will be powered by infrastructure and renewable energy”.

Labor is committed to debt, equity and capital grant funding for the renewable energy sector. To achieve our target of 50% renewable energy generation by 2030 each of these three elements are crucial.

Labor has released a comprehensive Climate Change Action Plan, which includes a commitment to $206.6 million for a specific Concentrated Solar Thermal round of funding, $98.7 million to establish a Community Power Network and Regional Hubs, all to be funded through ARENA and a commitment to continue the Clean Energy Innovation Fund.

ARENA’s funding trajectory has been a political plaything of the Turnbull Government with the various changes over the term of this Government making it lumpy and sub optimal.

ARENA is fully funded for 2016/17 but we recognise that the balance of funds and programs needs further consideration to ensure that we have what is actually required to achieve our targets for the renewable revolution and deliver on the commitments in our Climate Change Action Plan. 

On winning Government we will sit down with the ARENA board and work through exactly what is required.