The federal government today proposed new rules to regulate greenhouse gas emissions from Australia’s polluting industrial sector. The rule changes apply to a measure known as the “safeguard mechanism”, and are supposed to stop Australia’s top 215 emitters, such as new coal, oil and gas projects, from emitting over certain thresholds, or “baselines”.
The safeguard mechanism was established by the Abbott Coalition government in 2016. It’s been widely criticised for lacking teeth – indeed, industrial emissions have actually increased since the mechanism began.
The safeguard mechanism was reviewed last year and Labor had promised a revamp. The fine detail of the changes is crucial, because it will determine how well Australia brings down its emissions on the path to net zero.
