Federal Energy Minister Josh Frydenberg has revealed the Government is considering lifting a ban on allowing the Clean Energy Finance Corporation (CEFC) to invest in carbon capture and storage.
"Carbon capture and storage is an important technology," Mr Frydenberg said. At the moment the CEFC, the Government's green bank, is not allowed to invest in it. But amid the Coalition's renewed support for coal-fired power, Mr Frydenberg said that could change. "We're going to look at all our options because of the challenges that we face, namely to ensure energy security [and] energy affordability, as we transition to a low-emissions future," he said. Shadow Energy Minister Mark Butler said it would require the kind of legislation Labor would strongly oppose. "This would be an outrageous act of vandalism against a successful financing mechanism for renewable energy, for energy efficiency projects and for genuine low-carbon technology," he said. "It's no real surprise, I