Environmental funding package announced
NSW Environment Minister Mark Speakman last week announced a $0 million environmental funding package that will support a range of new environmental programs.
The draft strategic plan released by NSW Environment Minister Mark Speakman provides much-needed vision to best spend the money drawn from NSW businesses through the NSW Climate Change Fund.
The strategic plan is the first step to implementing the policy framework. The strategic plan organises potential actions into three priority investment areas that will form the basis of future action plans
1. Accelerating advanced energy – Up to $200 million to be invested under the Climate Change Fund
The Climate Change Fund will be used to build confidence for the private sector to invest and grow jobs in the new advanced energy economy. This will reduce emissions and air pollution, improve public health, and make New South Wales more competitive. Some potential actions in this plan complement proposed actions in the Clean Air for NSW consultation paper.
2. National leadership in energy efficiency (up to $200m) – Up to $200 million to be invested under the Climate Change Fund
The government has released a public consultation paper, A Draft Plan to Save New South Wales Energy and Money. This plan outlines options for achieving the state’s energy savings target, and these actions are also included in the strategic plan.
3. Preparing for a changing climate (up to $100m) – Up to $100 million in new funding to be invested under the Climate Change Fund
Actions funded under the Climate Change Fund will help New South Wales adjust to a changing climate, avoid potentially significant future costs, and protect those most vulnerable in our society from the worst impacts of climate change.
The NSW government will also form action plans in 2017 that will outline the delivery of investment priorities over the next five years in three areas; accelerating advanced energy, national leadership on energy efficiency, preparing for a changing climate.
The Property Council consult further on the draft plan to Save NSW Energy and Money that is included as one of three investment channels in the strategic plan -to ensure that suggested initiatives to advance Building Sustainability Index (BASIX) don’t add unreasonable financial constraints to an already highly regulated industry.