May 15 2017

By Georgia Holland

 

The NSW Greens are calling on Premier Gladys Berejiklian to ensure proceeds from the buyback of NSW's stake in the Snowy Hydro scheme are directed into climate action.

A notice of motion was given in State Parliament stating: should the buy back occur, multi-billion dollar proceeds must be allocated to top up the state's Climate Change Fund.

This would include infrastructure and programs to transition the NSW economy towards renewable energy.

NSW Greens Treasury and Climate Change spokesperson Justin Field says reports place the value of NSW’s stake in the Snowy Hyrdo scheme as high as $3.5 billion.

The Sydney Morning Herald reports a memorandum of understanding has already been signed by the Berejiklian government to buy back NSW's share.

Talks with the Andrews Victorian government have not advanced as far.

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