15.4 C
London
Tuesday, June 6, 2023
HomeAustraliaGreens support Labour's backstop mechanism introducing coal and gas 'caps'

Greens support Labour’s backstop mechanism introducing coal and gas ‘caps’

Date:

Australia to introduce coal and gas ‘caps’ as Greens SUPPORT Anthony Albanese’s climate change plan, in exchange for significant concessions

  • The Greens agree to support the safeguard mechanism
  • Deal will help reduce carbon emissions, says Labor

Green leader Adam Bandt today announced that his party has reached an agreement with Labor on the key climate policy that Anthony Albanese brought to the federal election, saying the coal and gas industries will suffer a “big hit” as a result.

Bandt’s deal means Energy Minister Chris Bowen’s backstop can now go through the Senate, after weeks of Labor saying the Greens might refuse to back the proposal.

Bandt and his party had raised concerns that the government’s plan could worsen the climate crisis and Greens founder Bob Brown criticized the policy.

The policy will require the country’s top 215 emitters of carbon dioxide to cut pollution by five percent a year through 2030 and place a “hard cap” on emissions.

Bandt said the bill will include a “pollution trigger” that will require the climate change minister, currently Bowen, to test the impact of new or expanded projects on the country’s net and cap carbon budgets.

“With our significant amendments, the Greens will vote to pass the bill and back the regulations, but the fight against all new coal and gas continues,” Bandt said on Monday.

Green leader Adam Bandt today announced that his party has reached a deal with Labor on climate policy that led to federal elections.

Mr Bandt said: ‘There will now be, in legislation, a strict cap on the actual emissions that the protection sector can emit.

‘This puts a limit on the expansion of coal and gas in this country. In fact, the limit should decrease over time.

‘There will be, for the first time in the law in this country, a limit to the amount of pollution that these corporations, including coal and gas corporations, can pollute.

‘I want to say to everyone who is desperate for the future under our climate crisis and who is worried about their lives or the lives of their children or their grandchildren,’ you need to step up today because we have shown that it is possible to take on the corporations of the coal and gas and win.

The government is seeking to approve the mechanism in parliament this week so that the reforms can be in place by July.

Labor needs the support of the Greens plus two crusading lawmakers for the bill to pass the Senate against coalition opposition.

The Greens have been calling on the government to stop all new coal and gas projects in exchange for their support of the bill.

Under the agreement, there will be a cap on gross greenhouse gas emissions, which cannot exceed current pollution levels of 140 million tons per year, and there will be a cap that decreases over time.

The backstop mechanism will now be able to pass the Senate and become law, after weeks of concern that the Greens could destroy the proposal by refusing to back it.

The backstop mechanism will now be able to pass the Senate and become law, after weeks of concern that the Greens could destroy the proposal by refusing to back it.

The backstop, which was initiated by the coalition government but is being reviewed by Labour, will apply to the country’s 215 biggest emitters and force them to reduce their emissions by 4.9 percent each year.

Companies that cannot meet the targets could buy carbon credits.

The policy is seen as essential to achieving the climate goal of 43 percent emissions reductions by 2030 and net zero emissions by 2050.

Key acting senator David Pocock is also in talks with the government and has raised concerns about the excessive use of carbon offsets under the plan.

Labor needs the support of the Greens plus two MPs to get the bill through the Senate against coalition opposition.

Labor needs the support of the Greens plus two MPs to get the bill through the Senate against coalition opposition.

Jackyhttps://whatsnew2day.com/
The author of what'snew2day.com is dedicated to keeping you up-to-date on the latest news and information.

Latest stories

spot_img