Martin Ferguson (Batman, Australian Labor Party, Minister for Resources and Energy) Share this | Hansard source

I thank the member for Fremantle for the question. It is a further statement of her interest not only in the energy debate but in the all-important issue of clean energy. On 17 May the Prime Minister announced that Australia would join the International Renewable Energy Agency. It is on that basis that I will be travelling to Egypt on the weekend for the purposes of signing on behalf of Australia at the formation of the international institute and participating in a debate about the work of the International Renewable Energy Agency. Historically, Australia’s participation internationally in the energy debate has gone to the work of the International Energy Agency, and for years that debate has been on the question of energy security. Given the challenge of climate change and the need to move to a low-emissions global community, the debate about energy has become far more complex. It is no longer just about energy security; it is also about energy security in the context of moving towards clean energy. Our participation in IRENA is very much part of that. It is about Australia leading internationally, in the same way in which we are leading domestically, on the clean energy debate.

I have already referred to the fact that it was Australia’s leadership that has now led to the formation of the Global Carbon Capture and Storage Institute, which is about making sure that we maintain energy security in Australia whilst guaranteeing the future of our coal fired power stations because, as we all appreciate, they supply 82 per cent of Australia’s energy. In terms of the international energy debate, it is also our responsibility not only to invest in technology domestically but also to participate in the international technology debate. I say that because technology has created this challenge of climate change, and technology will be the solution. The role of IRENA is to promote the sustainable use of renewable energy on a global scale. It is also its responsibility, as it is Australia’s responsibility, to devolve that technology to developing nations. If we are to make a contribution globally, then one of our responsibilities is to invest internationally in research and development and to assist less developed countries to pick up and use that technology on a commercial scale.

The question also went to our responsibilities domestically on the climate change front. I remind the House that the budget actually provided for an investment of $2 billion by the Australian government in accelerating the demonstration on a commercial base of renewable energy in Australia. That commitment included $1.6 billion for the Solar Flagships Program and an additional $465 million to the Australian Centre for Renewable Energy. That raises the issue of certainty. It goes to the heart of our requirement as a nation to put a price in place on carbon and also to establish once and for all a set target on renewable energy. I say that because the energy security debate requires investment horizons that enable the private sector to make investment decisions in Australia. As we all appreciate—

See this speech in context