The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
CANBERRA / AP
Australia’s prime minister on Wednesday distanced himself from the man he replaced by announcing a new fund to promote clean energy innovation as the country heads toward a likely early election in July.
The announcement by Prime Minister Malcolm Turnbull of the 1 billion Australian dollar ($760 million) Clean Energy Innovation Fund comes after his predecessor Tony Abbott accused him this week of seeking re-election on the Abbott government’s record.
Among Abbott’s biggest achievements of his two years in power was repealing a carbon tax that had been paid by the worst industrial polluters in a bid to reduce the nation’s greenhouse gas emissions. Turnbull, who has long advocated that polluters should pay for their carbon emissions, also announced the center-right government’s support for two agencies that finance and promote clean energy in Australia.