Plan to curb coal, gas projects to seal Australia climate pact

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Plan to curb coal, gas projects to seal Australia climate pact
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The mechanism will compel the top emitting facilities to cut greenhouse gas emissions by 4.9 per cent a year by 2030. Read more at straitstimes.com.

CANBERRA - Australia’s government is expected to win approval for its flagship climate policy after agreeing new action to limit development of new coal and gas projects, according to the Greens Party.

The country’s safeguard mechanism, which would compel the country’s top emitting facilities to cut greenhouse gas emissions by 4.9 per cent a year by 2030, will now also restrict the use of carbon offsets, the junior opposition party said on Monday. “Coal and gas pollution was set to soar under Labor’s safeguard,” Australian Greens leader Adam Bandt said in a statement. “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.”

An overhaul of the safeguard mechanism is intended to mandate tougher climate action for about 215 entities that together account for around a quarter of Australia’s total emissions. The changes need approval in the Senate, the nation’s upper house, and are now likely to pass with the support of the Greens.

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