Australian prime minister plans cash splash on green fund

According to The Australian Financial Review, the Albanese government is planning a “think big” multibillion-dollar initiative to try to compete with the United States’ $624 billion Inflation Reduction Act and similar schemes elsewhere, in a bid to drive the domestic development of clean energy technology.
The scheme, which sources said is likely to be a combination of subsidies and co-investment, will aim to stem the flow of capital to the US, where President Joe Biden’s IRA is acting as a magnet.
The government already has several initiatives in play but has been under pressure to do more, including from Squadron Energy’s Andrew Forrest, who is seeking government support to develop the commercially viable production of green hydrogen.
He has argued previously that Australia should join forces with the likes of Japan and Germany to help counter the pull of the IRA.

https://www.afr.com/politics/federal/think-big-pm-plans-cash-splash-on-green-fund-20240215-p5f53s