More than 200 of the country’s biggest industrial emitters will need to cut emissions by almost 5 per cent each year to 2030, to help the Albanese government meet its 43 per cent reduction target.
Big industrial emitters have been offered a carbon price cap starting at $75 a tonne that will rise with inflation to give business certainty about the maximum compliance costs of the Albanese government’s decarbonisation plan.
The government has compromised between setting site-specific emission caps and industry-average benchmarks, settling on a hybrid approach. The government said there would be “tailored” treatment for emissions-intensive, trade-exposed facilities based on the principle of comparative impact, “to ensure competitiveness and that emissions do not ‘leak’ overseas”.
“It helps manage upside price risk and the fact the government has included that is a significant change,” she said. “The ability for companies to purchase ACCUs from the government is a break glass in case of emergency option,” Mr Grossman said. Mr Bowen said it was an important next step in ensuring the scheme delivered meaningful outcomes and was fit for purpose.
High emitting facilities will be compelled to contribute to the national emissions reduction, which until now has largely been left to the electricity sector which accounts for 33 per cent of emissions.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Single-use plastic cutlery and plates to be banned in England‘A plastic fork can take 200 years to decompose’, said environment secretary Thérèse Coffey
Read more »
'It is not good enough': Ley repeats Voice demand to Albanese ahead of referendumDeputy Opposition Leader Sussan Ley accused the government of engaging in 'political games' as it has not released more details about the Voice to Parliament, adding PM Anthony Albanese needs to answer 15 'perfectly reasonable' questions about the body.
Read more »
Albanese to visit WA flood-impacted areasPrime Minister Anthony Albanese has landed in the flood-devastated regions of Western Australia ahead of a fast track tour with Premier Mark McGowan. Mr Albanese arrived in the Kimberley last night, preparing to personally witness the scale of the region’s worst-ever flooding. Mr Albanese will announce a joint disaster assistance package to help impacted residents. The record-breaking floods have isolated towns across the Kimberley after the Fitzroy River peaked at 15.8 metres.
Read more »
Anthony Albanese and Mark McGowan to visit Kimberley communities hit by devastating floodsPrime Minister Anthony Albanese and WA Premier Mark McGowan will visit Fitzroy Crossing and communities impacted by record flooding in the state's Kimberley region.
Read more »
Albanese govt ‘withholding’ Indigenous Voice info risks ‘reconciliation’ project failureThe Albanese government “withholding the detail” on the Indigenous Voice to Parliament “risks the whole reconciliation project failing”, Deputy Opposition Leader Sussan Ley says. “The government needs to stop playing clever, tricky, political games by rushing the referendum and withholding the detail of the Voice itself, how it will look, how it will operate,” Ms Ley told Sky News Australia. “That actually risks the whole reconciliation project failing.”
Read more »
Urgent care clinic locations yet to be finalised by Albanese governmentDespite the Albanese government promising to have urgent care clinics up and running by mid this year, their locations are yet to be finalised. The Department of Health has confirmed it is still working with state and territory governments seven months after the government committed to the project, which aims to alleviate pressure on emergency departments. Almost a third of electorates were promised a clinic during last year's election. The Opposition is demanding Labor issue a more realistic timeline and not walk away from its promise.
Read more »