POLICY

Labor strengthens climate target 

PRIME Minister Anthony Albanese has agreed to negotiate with the Greens over the Labor government's emissions reduction targets even as moderate Liberals threaten to cross the floor to support the government. 

Labor strengthens climate target 

At the first sitting of parliament since the May election that saw Labor win, and 12 Greens win the Senate and four seats in the lower house, as well as ‘teal' candidates who won traditional Liberal seats, Albanese strengthened his proposed legislation. 
 
Future changes may only strengthen emissions cuts and he has made clear he will try to increase the target  over time. 
 
Currently the target is 43% by 2030 over 2005 levels, as opposed to the former Coalition's 26-28%.
 
The Greens want higher cuts and also want to see all fossil fuel projects that are not already in production, such as Woodside Energy Group's Scarborough, cancelled. 
 
Greens would like to see a 75% target by 2030 and net-zero by 2035, not 2050. Leader Adam Bandt would also phase out all oil, gas and coal exports. 
 
"The bill makes it clear that 43% is our minimum commitment - and does not prevent our collective efforts delivering even stronger reductions over the coming decade," energy minister Chris Bowen said.
 
"We went to the election promising to reduce emissions by 43 per cent by 2030, we were given a mandate and now we are delivering." 
 
The bill will be introduced to the floor tomorrow. Even if it passes in the lower house, it will need every upper house vote it can get later this year. 

 

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.

editions

ENB CCS Report 2024

ENB’s CCS Report 2024 finds that CCS could be the much-needed magic bullet for Australia’s decarbonisation drive

editions

ENB Cost Report 2023

ENB’s latest Cost Report findings provide optimism as investments in oil and gas, as well as new energy rise.

editions

ENB Future of Energy Report 2023

ENB’s inaugural Future of Energy Report details the industry outlook on the medium-to-long-term future for the sector in the Asia Pacific region.

editions

ENB Cost Report 2021

This industry-wide report aims to understand current cost levels across the energy industry