Guest essay by Eric Worrall

Aussie Prime Minister Malcolm Turnbull has just pledged to spend $1 billion of Australian taxpayer’s money, on renewable schemes which are struggling to raise their own finance on the open market.

Turnbull’s climate change boost defies Abbott

MALCOLM Turnbull will keep two climate funds that Tony Abbott went to the 2013 election pledging to abolish.

The Prime Minister says clean energy is a vital part of his plan to boost innovation and create jobs beyond the mining boom.

The prime minister will announce today that a $1 billion Clean Energy Innovation Fund will be set up in July, jointly managed by the Clean Energy Finance Corporation and Australian Renewable Energy Agency.

The two bodies will jointly manage the fund from July in order to finance products such as large-scale solar.

Mr Turnbull, a previous supporter of an emissions trading scheme, has been toning down criticism…