Australia targets 20pc renewable energy by 2020
Australia on Thursday passed a clean energy law requiring the country to produce 20 percent of its power from renewable sources by 2020 in a move that could draw billions of dollars in green investment.
The Australian senate passed the government-sponsored bill just days after parliament rejected further-reaching but controversial legislation aimed at slashing carbon emissions.
"This is an extremely important achievement and it is one of the key institutional changes in the battle that the government is undertaking to deal with climate change," said Greg Combet, deputy minister for climate change.
"The passage of the legislation will help unlock investment in renewable energy generation and of course in jobs associated with those industries in areas like solar and wind power, amongst others," Combet told parliament.
While the lower house has passed the bill, it will return there for approval on a few minor technical changes before formally becoming law.