The safeguard mechanism is supposed to stop Australia’s largest polluters from emitting over a certain threshold. It’s been widely criticised for lacking teeth, and is finally under review.
Right now, the safeguard mechanism meant to reduce emissions is not fit for purpose. Labor is exploring ways to fix it - and create a proper pollution market.
Labor won’t concede to the Greens’ core demands on the bill, but a climate “trigger” on new developments could ensure the bill has real force.
It wouldn’t be a modern Australian election campaign without the words “carbon tax” being thrown around.So lets clear a few things up.
Changes to Australia’s emissions reduction policies may do little more than channel taxpayer money to industry.
Under the current rules, the federal government takes the most responsibility for buying carbon credits. A blockchain-driven market would be faster, smarter, and much more open.
Climate change has won and lost elections in the past, and there’s a distinct chill in the air this time around.
Australia’s greenhouse emissions are once again rising, after a decade of consistent declines. But the right policies are already in place to turn things around - they just need to be ramped up.