Climate Safeguard Mechanism Will ‘Stifle’ Gas Industry, Warned Shadow Foreign Affairs Minister
Australian businesses, and especially the gas industry, will suffer under the climate safeguard mechanism, Shadow Foreign Affairs Minister Simon Birmingham has warned.
The safeguard mechanism, which was initiated by the centre-right Coalition but is being overhauled by the centre-left Labor, requires the 215 facilities that annually produce over 100,000 tonnes of greenhouse gases to limit their net emissions below a baseline limit.
It’s highly likely the plan will pass through parliament after the left-wing Australian Greens announced it has successfully struck a deal with the Labor government on Monday.
Birmingham said if that were indeed the case, the economic ripple will be felt over months or years to come….