Clean Business Fund

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In its 2007 election manifesto, the ALP stated that it would establish a $240 million Clean Business Fund "to help business and industry deliver energy and water efficiency projects, with a focus on productivity and innovation."[1]

In mid November 2007 Labor leader Kevin Rudd detailed that his government would provide $180 million over the first three years. In its costings, the ALP stated that the government would contribute $50 million, $60 million and $70 million in 2008-2009 through to 2010-2011.[2]

2008 Budget Decisions

In its 2008-2009 budget, the Rudd government announced that the fund, which had been renamed the Clean Business Australia initiative, would be funded to the tune of $240.0 million over four years from 2008‑09, "which will assist businesses reduce their own greenhouse gas emissions and bring to market new products that save energy and water." The fund, within the Department of Innovation, Industry, Science and Research has three program components comprising[3]:

  • the Climate Ready Program with funding of 22.6 million in 2009-10, 23.8 million in 2010-11 and $15.5 million in 2011-12;
  • the Green Building Fund with funding of $37.5 million in 2009-10, 15.0 million in 2010-11 and $15.0 million in 2011-12;and
  • Retooling for Climate Change with funding of $21.8 million in 2009-10, $24.5 million in 2010-11 and $17.8 million in 2011-12.

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