E&OE….
Topics: Emissions Reduction Fund, renewable energy, Prime Minister Turnbull, first meeting of new Cabinet
DAVID SPEERS:
Environment Minister Greg Hunt joins me now. Thanks for your time this afternoon.
GREG HUNT:
It's a pleasure.
DAVID SPEERS:
You sat around the Cabinet table under the Abbott Government for the last two years. This was the first meeting of Malcolm Turnbull's prime ministership. Any notable differences?
GREG HUNT:
Look, I won't try to draw comparisons. I'll just say that the tone and tenure of the room was: A – cooperation, B – about focusing on the opportunities for Australian people through innovation.
So as you craft the future for Australia through technology, through innovation, through embracing the opportunities, what does it mean for people in their lives?
It's the opportunity to work, it's the opportunity for small businesses to invest. And as a consequence of that, if you have a successful nation you can also be a compassionate nation.
So they're the key themes without going into obviously the details of Cabinet discussion.
DAVID SPEERS:
I mean, we do hear these key words that you've used there that Malcolm Turnbull's been using about the opportunities, about the future economy, about the 21st century, about the most exciting time ever that we live in.
What does that mean in a tangible sense in practice?
GREG HUNT:
Well, it means we'll have an enormous focus on innovation. In my own portfolio, we'll obviously be bringing together some of the climate levers of government.
We already have a tremendously successful Emissions Reduction Fund. We have the safeguards mechanism coming in, the Renewable Energy Target and then there are other elements which will shortly be announced – bringing in to the Environment portfolio, this central coordinating role for climate change – but not just climate change but for innovation and new technology and so there really are opportunities.
DAVID SPEERS:
Including in the renewable space?
GREG HUNT:
Well absolutely. Obviously under Malcolm Turnbull there's a deep, long history of support for renewable energy…
DAVID SPEERS:
That wasn't there with Tony Abbott and Joe Hockey.
GREG HUNT:
No look, I'm not saying that. He has had a unique personal history in this space.
It's a shared passion in terms of both climate change and renewable energy – but doing it without hitting people with an electricity tax.
We've already taken the electricity tax away and Mr Shorten wants to go back to the past, we want to go forward to the future.
DAVID SPEERS:
What about the Clean Energy Finance Corporation? It can't currently invest in wind power – will that change?
GREG HUNT:
Look at the moment there's no change in policy and I'm not foreshadowing anything there.
They are actually coming back to the Government with proposals that might be flexible and we will look at that in time.
The policy remains the same, but the opportunity for flexibility and innovation and for support and growth in the renewable sector – to achieve the outcomes of lower emissions and investment and jobs – is real and tangible right now.
DAVID SPEERS:
Just to be clear is the Government now willing to invest at all in wind power?
GREG HUNT:
Well look, there's been no change in policy. I understand though…
DAVID SPEERS:
Could there be?
GREG HUNT:
…it has not been in my portfolio previously but I understand that there – the mandate will be discussed between the Government and the CEFC – or the Clean Energy Finance Corporation – and we'll see what they proposed but…
DAVID SPEERS:
So that opens the door for some change…
GREG HUNT:
…no change in policy at this time.
DAVID SPEERS:
You are open to some change…
GREG HUNT:
At this point no change in policy. The broad direction though – the vision – is that we can actually do some quite profound things in renewable energy, energy efficiency – whilst maintaining the general policy settings.
The Emissions Reduction Fund has been a spectacular success and around the world, interestingly, others are picking it up.
The World Bank has adopted an almost identical model to what Australia has with the Emissions Reduction Fund.
Almost completely unreported in Australia – but that's a story that we as a Government and we as a country should be proud of.
DAVID SPEERS:
We'll look into that. One thing the Abbott Government refused to do was buy international permits to reduce emissions. Is that something that might come on the table now?
GREG HUNT:
Again, no change in policy and I'm not foreshadowing any internal discussion – it's just not been something that in the process of establishing a new Government has been discussed – so our policy continues.
DAVID SPEERS:
But again does that mean it's still closed or could be considered?
GREG HUNT:
We were always going to review that in 2017-18. And that was actually a significant change in only the last two months – where that opportunity was opened for both the Emissions Reduction Fund and the safeguard mechanism. And so that remains the situation.
But let me look at it from my perspective. I've been fortunate to have had the support to build the policy that I wanted. There is now the opportunity to go to the next level – again within the framework.
The Emissions Reduction Fund and safeguards are absolutely sacrosanct, the opposition to a carbon tax is sacrosanct – but there will be flexibility to have a real emphasis on renewables and climate innovation. And that technology focus is for me very exciting.
DAVID SPEERS:
Can you – just finally, just going back to the first cabinet meeting, it ran for about two hours I think this afternoon.
And obviously you can't go into what was discussed. But are we at the point where decisions are being made or was this more of a ‘get to know you’ Cabinet meeting and get to know the process but for the many new faces who are there?
GREG HUNT:
Look what we've had today is firstly a setting of directions for the Government.
And these are openly discussed about a focus on innovation, a focus on future and a focus on the human benefit for small businesses and for employees and for those seeking work – that this will be about creating jobs, about creating jobs and about creating jobs.
And that in turn allows us to create a higher level of wealth and that in turn allows us to be more compassionate.
DAVID SPEERS:
Environment Minister Greg Hunt, thanks very much for joining us this afternoon.
GREG HUNT:
Thanks David.
(ENDS)