According to the latest reports, Australia to make big polluters to reduce greenhouse emissions alongside the green party. The Australian government has taken this important step to adopt significant climate legislation that would compel large greenhouse gas emitters to decrease emissions. In this new movement, the minor party called Green Party will also join hands with the government.
As per the Australian government, Safeguard Mechanism Amendments would establish a cap on the nation’s emissions and require Australia’s 215 greatest polluting plants to cut their emissions over time.
The center-left administration of Labor Party has stated that the Safeguard Mechanism amendments are critical to Australia meeting its aim of decreasing emissions by almost 43% below 2005 levels by the decade’s end.
With 11 senators of Green Party on board, the administration simply needs the support of 2 minor or unaligned party senators to get the measures through the upper house.
According to Greens leader Adam Bandt, a “strict cap” on emissions would prevent half of the 116 new gas and coal projects planned in Australia from proceeding. The upper limit to the allowed greenhouse gas emissions has not been made public. The cap would be gradually decreased as polluters reduced their emissions.
Without the mechanism, Australia’s emissions would only be reduced by 35% by the end of the decade, according to Climate Change and Energy Minister Chris Bowen.
The Safeguard Mechanism will lower Australia’s greenhouse gas emissions by 205 million metric tonnes by 2030, the equivalent of removing two-thirds of the country’s automobiles from the road at the same time.
Prime Minister of Australia, Anthony Albanese tweeted, “After a wasted decade, today is a great day for action on climate change. Our Safeguard Mechanism is a step closer to passing Parliament. It will help us reach our goal of reducing emissions by 43% by 2030.” The Climate Council, a prominent climate communication organization, hailed the measures as the first Australian law to restrict greenhouse gas emissions in a decade.
After a wasted decade, today is a great day for action on climate change.
Our Safeguard Mechanism is a step closer to passing Parliament.
It will help us reach our goal of reducing emissions by 43% by 2030. pic.twitter.com/BqENx9xTWj
— Anthony Albanese (@AlboMP) March 27, 2023
Large polluters would be allowed to purchase carbon credits to assist them to meet their emission reduction goals. Polluters that utilize carbon credits to offset more than 30% of their emissions must explain why they are not doing more to cut their own greenhouse and carbon emissions.
As Australia to make big polluters to reduce greenhouse emissions alongside the green party, this can be a good example on the global stage. Countries can urge others to follow the example and enhance their ambition in cutting emissions by exhibiting leadership in this area. This has the potential to produce a positive feedback loop that leads to more ambitious climate policies and activities globally.
Source: Anthony Albanese Tweet