Labor overhauls Australia’s climate spending in budget and sounds warning on future costs

In the environment portfolio, the government promised $1.2bn for programs to support the Great Barrier Reef. The government said the funding changes in the 2022 federal budget would help put Australia on track to be a ‘renewable energy superpower’. Photograph: Lea McQuillan/Getty Images/500px

Labor has revamped Australia’s response to climate change and environmental degradation, redirecting nearly $750m in Coalition commitments, including some spending on gas and carbon capture and storage.

As revealed by Guardian Australia, the first Albanese government budget scrapped a Scott Morrison-era electricity generation underwriting scheme that was promised, but failed, to build up to five new gas-fired power generators and six hydro plants. It also reduced and “realigned” support for CCS away from new fossil fuel developments.