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“It was set up to avoid growth in industrial emissions overwhelming reductions achieved through the government’s voluntary incentive scheme, the Emissions Reduction Fund, which has now delivered more than 100 million tonnes of abatement.”Ī week after the Morrison government released its controversial modelling to show how Australia would reach net zero emissions by 2050, Mr Taylor will tell the forum that companies will be encouraged to embrace new technologies to reduce their emissions. “The safeguard mechanism was never meant to be a tool to force businesses to reduce their emissions – which is a carbon tax by stealth,” Mr Taylor will say. Mr Taylor will tell an Energy Users Association of Australia forum on Wednesday that any move by the Labor Party to tighten the safeguard mechanism when it releases its updated climate change policies next month would be akin to a backdoor carbon tax. While the scheme’s critics claim it should be overhauled to penalise the top 500 biggest emitters, Mr Taylor insists the safeguard mechanism was never meant to be more than a cap to stop pollution increasing.įederal Energy Minister Angus Taylor said the safeguard mechanism for big polluters won’t be tightened.
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The safeguard mechanism requires Australia’s largest greenhouse gas emitters to keep their net emissions below a baseline.
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The Morrison government will not tighten the baselines for its “ safeguard mechanism” to force Australia’s biggest polluters to cut their emissions in the lead-up to net zero by 2050, according to Federal Energy Minister Angus Taylor.