CEFC Annual Report tabled in Australian senate

The Clean Energy Finance Corporation (CEFC) Annual Report 2017-18 has shown the corporation has invested $127 million in waste-related projects in the past year.

The report was tabled in the Australian Senate and has found the total new CEFC commitments in 2017-18 were $2.3 billion, which is up from $2.1 billion in the previous year.

Across its entire portfolio, the corporation has contributed to projects with a total value of around $19 billion and financed more than 5500 smaller-scale clean energy projects through its partners.

Related stories:

The CEFC is responsible for investing $10 billion in clean energy products on behalf of the Federal Government to reduce the country’s carbon emissions.

Since beginning in 2013, a total of 190 million tonnes of greenhouse gas emissions have been forecast to be cut, once funds are deployed and projects fully operation.

In the Chair’s Report, CEFC Chair Steven Skala said these investments include marquee projects and highlight decarbonisation and can be achieved profitably and effectively across the clean energy sector and waste related projects.

“This year has seen industry seizing the challenges and opportunities offered by decarbonisation and accelerating its consideration of emerging duties associated with carbon disclosure,” he said.

“The financial markets have also moved in this regard. The question now is not one of direction, but of pace. This means the CEFC will continue to have a significant number of opportunities available in its investment pipeline.”

CEFC CEO Ian Learmonth said much has changed since the CEFC began investing in 2013.

“From our early days largely focusing on renewable energy opportunities, we now see our capital working right across the economy, in an increasingly diverse range of projects,” Mr Learmonth said.

“We see clean energy technologies embraced by home owners and small businesses; essential infrastructure projects and landmark property developments; innovative start-ups and institutional investors with an eye to a sustainable future.

“In 2017-18, our most active year of investment, we see a common thread in this activity: a focus on embracing technological innovation to cut energy costs and lower emissions.”

SA Govt invests $3.2M into recycling infrastructure

More than $3.2 million in funding has been approved by the South Australian government for 17 recycling infrastructure projects.

It is part of the state government’s $12.4 million support package announced in May in response to China’s National Sword Policy.

Related stories:

The funding was delivered through Green Industries SA and covers a range of recycling, waste management and resource recovery projects.

More than $600,000 has been invested into infrastructure that deals directly with recovering and recycling plastic waste.

Around $424,000 has been invested into improving Material Recovery Facilities in Mt Gambier and $357,000 for end of life vehicle recycling.

Projects that improve the infrastructure to recycle post-consumer paper in the Australian market have also received $250,000.

SA Environment Minister David Speirs said China’s National Sword policy was a catalyst to increase the range of our recycled materials and develop local markets as a priority.

“This funding supports a range of projects in both the private sector and local government, across metropolitan and regional South Australia,” he said.

“This investment in the remanufacturing, re-use, and recovery sector helps maintain our world leading diversion results, where 83.4 per cent of all our waste is diverted from landfill.

“The State Government funding of more than $3.2 million has been matched by the applicants, unlocking more than $7.9 million of investment for 17 projects that support an estimated 36 full time jobs,” Mr Speirs said.

The next round of grant funding to support and develop recycling infrastructure is now available.