Renewables fund rejects Hockey's request to cease investing
THE investment fund set up under Labor to encourage low emission technology and renewable energy projects has rejected a request from the Treasurer Joe Hockey to stop making new investments.
The announcement comes ahead of a key shadow cabinet meeting today at which Labor MPs will discuss their next move on the future of the carbon tax.
The Coalition's carbon price repeal policy includes provisions to dismantle the Clean Energy Finance Corporation (CEFC).
Mr Hockey is expected to introduce the legislation later this year and has asked the CEFC to stop lending in the interim.
However, the board and executive of the fund have decided to continue making investment decisions.