𝐀𝐮𝐬𝐭𝐫𝐚𝐥𝐢𝐚 𝐜𝐚𝐫𝐛𝐨𝐧 𝐩𝐫𝐢𝐜𝐞 𝐟𝐨𝐫 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐦𝐚𝐲 𝐢𝐧𝐟𝐮𝐬𝐞 𝐠𝐫𝐞𝐚𝐭𝐞𝐫 𝐜𝐥𝐢𝐦𝐚𝐭𝐞 act

Australia is about to take a big, constructive step on climate change policy: shall have a carbon price for the industry sector, under the safeguard mechanism.

It comes nine years after the Abbott Coalition government abolished Labor's carbon price. The safeguard mechanism lay as a sleeper for many years—legislated in large parts under the Coalition government, but kept ineffective due to how it was implemented.

The mechanism will become effective as a so-called "baseline and credit scheme," putting a price signal on about 30% of Australia's greenhouse gas emissions. It will create a sizeable financial incentive to cut emissions in industry, even though it also relies on land-based carbon offsets.


Australia will have a carbon price for industry, and it may infuse greater climate action across the economy
Australia is about to take a big, constructive step on climate change policy: we will have a carbon price for the industry sector, under the safeguard mechanism.
https://phys.org/news/2023-03-australia-carbon-price-industry-infuse.html
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Do you agree?

18 more agrees trigger contact with the recipient

Peter Kamau
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7 w
This is indeed a great deal that'll ensure significant curbing on the amount of GHGs produced
5
George Kariuki
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7 w
It's encouraging to see Australia taking a big step forward on climate change policy by introducing a carbon price for the industry sector.
5
Joseph Githinji
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8 w
A great way to reduce greenhouse gas emissions. Hope someday we can all celebrate for reaching to a zero carbon goal.
11