Economy

 Infrastructure Australia's short-list released today includes proposals which would help build a sustainable Australia and others which would lock the country into a high-polluting path for decades, the Australian Greens said today.

Just two days after delivering its 'big polluters' bail-out package', the Rudd Government has announced a deeply flawed renewable energy
target that breaches its election promise and will entrench sector's
boom and bust cycles, the Australian Greens said today.

 The Australian Greens today welcomed US President-elect Obama's choice of energy efficiency expert Dr Steven Chu as his energy secretary.

The Australian Greens Transport Spokesperson, Senator Scott Ludlam says the Prime Minister's announcement of $580 million dollars to fast track coal transport is a "horrific use of tax payer funds" and an opportunity to embrace a 'Green New Deal' has been missed.

The Australian Greens are calling on the Federal Government to increase its investment in public transport, with the Prime Minister due to announce more infrastructure spending later today.

Greens Leader Bob Brown says that the Prime Minister's call for pensioners, carers and other low-income recipients to get out and spend their $10 billion budget allocation pre-Christmas is poorly framed advice.

National public transport inquiry launched

The Greens have successfully moved a motion for a Senate Inquiry into Public Transport today, and are proposing substantial Commonwealth funding for public transport including allocations under the Building Australia Fund, which is being debated in Parliament today.

The Australian Greens, with the support of the Liberals, have today amended Labor's Nation Building Bills to ensure that the multi-billion dollar funds are properly scrutinised.

The amendments, moved by Senator Milne:

Termination payments to CEOs valued at over $1 million should require shareholder approval, Australian Greens Leader Bob Brown said today.

"Shareholders should be empowered to restrain massive payments to departing CEOs," Senator Brown said.

Former Reserve Bank Governor Ian Macfarlane has criticised pay structures which awarded multi-million dollar executive bonuses for short-term profit results which, he said, 'were not returnable when the short-term profits were lost in subsequent years'.

Senator Brown will move amendments to the Corporations Amendment (Short Selling) Bill 2008 to require shareholder approval of any termination payment, including vesting of unvested equity incentives, above $1 million.

The Australian Greens will today move to amend Labor's Nation Building Bills to ensure that the multi-billion dollar funds help build a new, zero emissions economy, and are properly scrutinised.

The amendments, to be moved by Australian Greens Deputy Leader and Climate Change Spokesperson, Senator Christine Milne, would: