Senate crossbencher says government should instead look to emissions intensity scheme for electricity generators, while Labor says plan is a ‘stunt’

The key Senate powerbroker Nick Xenophon has warned the Turnbull government he has “real reservations” about allowing the Clean Energy Finance Corporation to invest in carbon capture and storage technology.

Xenophon told Guardian Australia on Tuesday night the government should, instead of rewriting the rules of its so-called “green” bank, just knuckle down and deliver an emissions intensity trading scheme for Australia’s electricity sector.

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