You might not have heard of them, but this year is the 10th anniversary of the establishment of two important Australian contributors to addressing the climate emergency.
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The Australian Renewable Energy Agency (ARENA) and the Clean Energy Finance Corporation (CEFC) were established as independent statutory authorities by the Gillard government with the support of all major parties in 2012.
Both organisations have similar objectives of encouraging innovation and uptake of renewable energy and reducing carbon emissions but their approach is different.
CEFC is a 'Green bank'. It has invested $10 billion of public money, in association with private investors, in energy efficiency, renewables and recycling projects.
In the process it has earned taxpayers around 4.5 per cent return on their investment and leveraged almost $25 billion of private co-investment.
These projects contributed to some 200 billion tonnes of carbon abatement and created thousands of jobs across regional Australia.
This is quite an achievement considering the Abbott government tried to close it down but was blocked in the Senate after Al Gore convinced Clive Palmer and then senator Rod Muir to support the CEFC.
More recently Minister Angus Taylor's attempts to force the CEFC to invest in gas was rejected by the courts.
CEFC stays at arm's length from politicians and has avoided the sports rorts and car park scandals that we are sick of, but it affects us all.
This year for example, Circular Plastics, a joint-venture partnership between Asahi Beverages, Cleanaway Waste Management and Coca Cola company, opened its Albury Wodonga plastic re-cycling factory. It is powered in part by renewable energy and partially funded by CEFC.
In our region, CEFC has invested in solar panels, insulation and energy efficient split systems in Housing Plus's new homes for low income earners in Bathurst, Orange and Lithgow.
ARENA focusses more on research and innovation than immediate commercialisation.
It works with organisations like universities and CSIRO providing grants for more edgy, long term technical projects like wave, tidal and geothermal energy, newer types of batteries and green hydrogen production.
It has spent over $1.8 billion since 2012 on over 630 projects across the nation.
Too much Australian creative technology is being commercialised overseas because of a lack of Australian investment. Arena and CEFC help Australia to develop its clean energy ideas on shore.
Happy 10th birthday.
