Catalysing and leveraging as we mobilise billions in our Greens-led, never-ending fight against reality.
I was going to make some well thought out and terribly witty comments about the $10 Billion green loans bank set up by the Gillard Government, but nothing I could write would come close to the ridiculous, meaningless claptrap that's on the $10 Billion website.
Read it and weep as the queues for the lender of last resort money form on the left!
The Clean Energy Finance Corporation (CEFC) will mobilise capital investment in renewable energy, low-emission technology and energy efficiency in Australia
The CEFC is a legislated $10 billion fund dedicated to investing in clean energy. Under its enabling legislation, its investment activities will be funded through a special appropriation of $2 billion to a special account every year for five years, commencing from 1 July 2013.
The CEFC's investment objectives are to catalyse and leverage an increased flow of funds for the commercialisation and deployment of Australian-based renewable energy, low emissions and energy efficiency technologies, thus preparing and positioning the Australian economy and industry for a carbon constrained world.
The CEFC will mobilise public and private sector capital and skills for this public policy outcome.
By working with private sector co-financiers, the CEFC aims to both leverage the total amount of funding available and to enhance the expertise and capacity of the financial sector to fund clean energy.
The CEFC will invest in organisations and projects using 'clean energy technologies' as well as manufacturing businesses that focus on producing the inputs required. The Clean Energy Finance Corporation Act 2012 excludes investment in technology for carbon capture and storage, nuclear technology or nuclear power. The CEFC will make its investment decisions independently, based on rigorous commercial assessments.