Safeguard deal a ‘huge hit’ to coal and gas – Greens

The Greens boast that coal and gas have taken a huge hit in the amendments negotiated in the Federal Government's Safeguard Mechanism Bill. This includes stopping many of the new coal and gas projects in the development pipeline, freezing 'low-integrity' offset projects and putting in place a declining hard cap on the scheme to ensure Australia’s actual pollution goes down. The party has pledged to support the Safeguard Mechanism legislation and regulations in light of these and a package of other significant amendments. “Coal and gas have taken a huge hit. The Greens have stopped many of the 116 new coal and gas projects in the pipeline from going ahead, pollution will actually go down, and we’ve derailed the Beetaloo and Barossa gas fields," Greens leader Adam Bandt said. “Coal and gas pollution was set to soar under Labor’s safeguard. "The Greens have introduced a hard cap on emissions, meaning real pollution must actually come down and the coal and gas corporations can’t buy their way out of the cap with offsets. "This puts a limit on coal and gas expansion in Australia. Pollution will now go down, not up, as it was set to under Labor. " The Minerals Council of Australia says it will be checking every detail of the amendments to the Safeguard Mechanism legislation carefully. "Australian mining wants to ensure that the industries that are producing in this country continue to work hard for Australians and that investment continues to flow into mining projects that will play a crucial role in providing the critical minerals and metals for the world to decarbonise," MCA chief executive officer Tania Constable said. "Australia is better placed with its resource base than any nation to reap the benefits of this new-energy transition. "This is why climate policy must thread the needle carefully." She said the challenges to meet the Safeguard Mechanism shouldn’t be underestimated. "If we are not careful, some facilities in Australia will close," Ms Constable said. "Not only would that damage our economy and slash tens of thousands of regional jobs and billions in investment, it also would push the emissions reduction burden on to other nations that are less able or less willing to decarbonise. "The Greens’ demonisation of coal also does not help the Australian economy, particularly as the nation continues to rely on coal powered energy generation to keep the lights on and keep prices down." Minister for Climate Change and Energy, Chris Bowen, said the finalisation of the Safeguard Mechanism Bill was a key milestone in achieving Australia’s 43 per cent emissions reduction target by 2030. “Today, we are a step closer to achieving net zero by 2050,” Mr Bowen said. “We thank those across the Parliament who continue to approach this legislation in a constructive way to ensure accountability, transparency and integrity for the scheme, and ensure flexibility and support for industry. We will continue to work with people of good faith across the Parliament to secure passage. “These reforms are the culmination of months of extensive feedback from Safeguard businesses, industry associations, climate and community groups, academics and private individuals. “Business and climate groups have been clear that the Parliament should pass the strengthened legislation in front of it and deliver overdue policy certainty – but Peter Dutton would prefer to drag Australia backwards and continue the climate wars. “These reforms are crucial to our climate and our economy – supporting Australian industry and ensuring they will continue to be competitive in a decarbonising world.”

Safeguard deal a ‘huge hit’ to coal and gas – Greens

Industry Queensland

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