Johnny-Come-Lately Howard Announces Renewable Energy Target - 15% By 2020 - CNN/Thompson

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SYDNEY, Sep. 23, 2007 (Thomson Financial delivered by Newstex) -- Australian Prime Minister John Howard Sunday announced a national target for clean energy (NASDAQ:CLNE) production that he said would reduce costs for businesses forced to comply with differing state schemes.

Under the new scheme, 30,000 gigawatt hours of energy must come from sources such as solar or wind power, or fossil fuel-fired electricity generation where carbon is captured and stored, each year by 2020.

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The initiative from the former climate change sceptic drew a mixed reaction, with some conservationists labelling the proposal as inadequate and potentially a backward step. 'In our view, it's a standstill target -- it's not actually going to do anything to reduce emissions,' Denise Boyd of the Australian Conservation Foundation said.

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http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-19762213.htm