Clean Energy Finance Corporation Act 2012

The Act establishes the Clean Energy Finance Corporation to facilitate increased flows of finance into the clean energy sector. The main function of the corporation is to invest its funds (USD 2bnper annum until 2017) into clean energy technologies.
 
A Clean Energy Finance Corporation (Abolition) Bill 2014 was before the House of Representatives which would abolish the Clean Energy Finance Corporation. This bill would also amend the Australian Renewable Energy Agency Act 2011 and Clean Energy Regulator Act 2011 to make amendments consequent on the repeal. As part of the process to ensure the passage of the Carbon Farming Initiative Amendment Bill 2014, the government has announced it will not bring this bill back to parliament in 2014; however it may do so in 2015 or beyond.

The Act's Article 64(1) was provided with ministerial direction on May 1st, 2020, with the publication of the Clean Energy Finance Corporation Investment Mandate Direction 2020 by the Ministry for Energy and Emissions Reduction  and the Finance Ministry. This Mandate establishes a $300 million fund to be used to develop the Australian hydrogen industry.