Adam Bandt says deal puts ‘significant hurdles’ in the way of new coal and gas but Chris Bowen insists it will not kill off new investment
The Albanese government’s signature climate bill targeting big polluters is a step closer to passing after a deal with the Greens including an absolute cap on emissions.
Bandt told reporters in Canberra the deal puts “significant hurdles” in the way of new projects including development of the vast Beetaloo gas basin in the Northern Territory, with up to $1bn a year in costs to offset its emissions enough to “derail” the business case for the project. It applies to facilities that emit more than 100,000 tonnes of carbon dioxide equivalent a year. Each facility is set an emissions limit, known as a baseline.
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