Prime minister-elect Tony Abbott's "illegal" decision to axe the Clean Energy Finance Corporation will hit jobs and the environment, say the Greens.
The Australian Greens say the coalition government's plan to shut down the Clean Energy Finance Corporation (CEFC) will wreck job opportunities in the renewable energy sector.
One of the first acts of the new Liberal National government after it is sworn in on Wednesday morning will be to direct the $10 billion CEFC to suspend loans for renewable energy projects.
Prior to the federal election, Senate clerk Rosemary Laing advised the coalition that legislation would be needed to close the so-called green bank and a minister who acted without that legislation could risk "serious legal consequences".
Greens senator Sarah Hanson-Young said incoming prime minister Tony Abbott's priorities are wrong.
"We know we have to transition to clean renewable energy and here we have Tony Abbott saying he wants to stop the renewable energy industry from being funded," she told Sky News.
"That is not just breaking the law, it is bad for the environment and it's going to trash jobs."