Federal Budget 2010: Climate budget at a glance

13 May 2010Archived News Climate Change Matters

Within its Federal Budget, the Government has announced the Renewable Energy Future Fund and the Climate Change — Foundation Campaign that relate to taking action on climate change.

Renewable Energy Future Fund

The Government will provide $652.5 million over four years to establish a Renewable Energy Future Fund to support Australia's transition to a low pollution economy prior to the future commencement of the Carbon Pollution Reduction Scheme (CPRS).

  • 2009-10: $0
  • 2010-11: $42 million
  • 2011-12: $352 million
  • 2012-13: $149 million
  • 2013-14: $109.5 million

This Fund will:

  • Form part of the Government's expanded $5.1 billion Clean Energy Initiative.
  • Provide additional support for the development and deployment of large and small scale renewable energy projects.
  • Include partnerships between the Government and the private sector to make critical early stage investments to leverage private funds to support the commercialisation of renewable technologies.
  • Be used to enhance Australia's take up of energy efficiency, helping businesses and households reduce their energy consumption.

Funding will be delivered through a number of departments and agencies, with the Department of Climate Change and Energy Efficiency coordinating Fund priorities and progress. Details of the specific commitments will be announced in the future and, hence, provision has been made in the Contingency Reserve for the funding at this stage.

All funding resulting from the deferral of the CPRS, as well as some existing departmental funding from within the Climate Change and Energy Efficiency portfolio, will be used to offset the cost of this measure.

Climate Change — Foundation Campaign

The Government will provide $30.0 million over two years for a national campaign to educate the community on climate change and climate change science.

Information will be provided through print, radio, television and a website.

  • 2009-10: $17 million
  • 2010-11: $13 million

The cost of this measure will be met from within the existing resourcing of the Climate Change and Energy Efficiency portfolio. 

 

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