Federal Labor’s plans to increase funding for the Clean Energy Finance Corporation (CEFC) and boost energy efficiency to drive down costs and cut emissions has been welcomed by the Green Building of Australia (GBCA).

The party’s energy policy blueprint, unveiled by ALP leader Bill Shorten, pledges an additional $10 billion dollars to the CEFC, to support investment in emerging renewable energy, low-emission and energy efficiency projects.

Labor has also committed to working towards bipartisan energy policy, with a focus on boosting energy efficiency, cutting the price of electricity and reducing greenhouse gas emissions over the next decade.

GBCA CEO Romilly Madew said Labor’s policy demonstrated a strong commitment to focus on energy efficiency, which industry has identified as a cost effective and practical way to reduce costs and emissions in the built environment.

“The GBCA welcomes Labor’s energy policy announcements, which highlight the importance of acting quickly to help resolve Australia’s energy challenges through embracing and supporting the proven success of initiatives like the CEFC,” says Madew.

“We have been calling for increased CEFC funding, outlined in a submission to the Government’s Clean Energy Finance Corporation Statutory Review earlier this year.”

 “This Labor policy represents a step forward in delivering the opportunities presented by a focus on increasing energy efficiency and productivity across the economy to help Australia meet its Paris Climate Agreement targets,” she says.