Australia makes biggest carbon polluters curb emissions
The Hindu
Australian Parliament created landmark new laws on March 30, 2023 that will make the nation’s biggest greenhouse gas polluters reduce their emissions
The Australian Parliament created landmark new laws on March 30, 2023 that will make the nation's biggest greenhouse gas polluters reduce their emissions or pay for carbon credits.
The centre-left Labour Party administration said the so-called Safeguard Mechanism reforms are essential to Australia reaching its target of reducing its emissions by 43% below 2005 levels by the end of the decade.
Set to take effect July 1, the reforms create a ceiling on the nation's emissions and force Australia's 215 most polluting facilities to reduce their emissions by 4.9% a year or reach the target with carbon credits.
The laws create Australia's first price on carbon since a former Labour government created a carbon tax in 2012.
A conservative government repealed that tax in 2014 and has since rejected any climate policies that would make polluters pay.
The bills passed the Senate on Thursday by a vote of 32 to 26, with Labour senators supported by the minor Greens party and unaligned legislators.
The Greens, who represent 11 senators, began negotiations with Labour with a demand that no new coal and gas extraction projects be allowed.