Concerns over Labor government’s carbon policy reform
The Labor government is seeking to reform the Safeguard Mechanism which was first introduced in 2016 by Tony Abbot. In its original incarnation, the Safeguard Mechanism proved ineffectual at reducing climate emissions from Australia’s largest carbon polluters.
The Safeguard Mechanism is designed to set a limit or baseline on emissions for Australia’s largest polluters. Those industries which reduce their pollution below the baseline earn credits which they are able to sell to polluters who exceed the limit, thus creating a trading scheme which incentivises emissions reductions.
The Federal Government will seek to finalise the Safeguard Mechanism later this year but the Climate Council of Australia already has a strong understanding of what the policy needs to entail in order to effectively reduce Australia’s climate emissions. Journalist Samuel Clarke began by asking chief advocate for the Climate Council, Jennifer Rayner about the Safeguard mechanism and why it was being reformed.