The report, Greenwashing Coal in New South Wales, reveals a stark contrast in funding priorities. State government organisations which are meant to be supporting communities with the transition away from coal have an initial budget of just $5.2 million, while public subsidies for coal research and promotion far exceed this amount.
Key points:
● The NSW Government’s proposed Future Jobs and Investment Authorities for the Hunter, Illawarra, Central West and North West regions aim to assist coal-reliant communities’ transition. But they are severely underfunded with a collective budget of just $5.2 million for all four authorities.
● These Authorities are not able to access increased funding from the Future Jobs and Investment Fund until 2028-29.
● Organisations devoted to promoting and prolonging the NSW coal industry, by contrast, have significantly more resources:
○ Coal Innovation NSW spent $27 million last year and has a balance of $45 million.
○ The coal industry organisation Low Emissions Technology Australia (LETA) is promoted as a $700 million fund. This fund is publicly subsidised, but recently asked to stop receiving contributions due to a significant surplus of funding.
The report calls for the abolition of Coal Innovation NSW and associated funds. It also recommends royalty deduction subsidies to LETA be immediately abolished.