Australia Prime Minister, Malcolm Turnbull, said that they will a A$1 billion(S $1.03 billion) clean energy innovation fund. This is reportedly to combat climate change, and his response to the people of his country who criticised the former prime minister for failing to support renewable energy . The money will be used bit by bit annually in clean energy technologies.
I feel that this is has both good and bad like all things, good as it serves as an example to other countries, which creates a beneficial kind of competition, like Singtel vs M1 kind of competition, other countries may also invest more in clean energy technologies to show that their country is not falling behind and that is what we need to reduce our heavy reliance on fossil fuels which increase the rate of global warming.
The downside, however is countries seeking to gain something from these clean energy technologies, or seeking profit of some kind, in this case is the Australian prime minister seeking approval from his people and this gives the upcoming generation an inappropriate impression and influence as countries do things for profit and popularity instead of trying to solve a worldwide problem. Clean energy technology might also be altered by manufacturers so that more can be sold for profit instead of being reliable.
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