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Australia’s biggest polluters will be forced to reduce emissions by 4.9 per cent each year

Australia’s biggest polluters will be forced to reduce emissions by 4.9 per cent each year


Australia’s biggest polluters will be forced to reduce emissions by 4.9 each year under new reforms to the Safeguard mechanism climate change policy the Albanese government has unveiled its proposed reform to the mechanism which will apply to the nation’s 215 biggest emitting companies including coal mines and aluminum smelters it is designed to.

Keep the nation on track to achieve Labor’s legislated emission reduction targets of 43 percent by 2030 and Net Zero by 2050 companies which cannot meet the tough new targets will be forced to buy carbon credits from other companies which are ahead of their targets a system designed to incentivize reducing emissions.