Coal and gas have taken a huge hit.
We’ve stopped many of the 116 new coal and gas projects in the pipeline from going ahead, pollution will actually go down, and we’ve derailed the Beetaloo & Barossa gas fields.
The Greens have secured significant improvements to Labor’s Safeguard Mechanism.
Thanks to the Greens in parliament, the Safeguard Mechanism, which regulates Australia’s 215 biggest polluters, will now have a hard cap on emissions, meaning real pollution must actually come down and the coal and gas corporations can’t buy their way out of the cap with offsets.
These are big steps towards a future with no more coal and gas.
Coal and gas have taken a huge hit.— Adam Bandt (@AdamBandt) March 27, 2023
Through our negotiations on the Safeguard Mechanism, the Greens have stopped about half of the 116 new coal & gas projects in the pipeline from going ahead, pollution will actually go down, and we’ve derailed the Beetaloo & Barossa gas fields.
Labor’s original Safeguard Mechanism was a plan full of accounting tricks, not real cuts to pollution, allowed more coal and gas, and did nothing to stop the 116 new projects in the investment pipeline.
Strong action on the climate crisis
The Greens have secured changes to the Safeguard Mechanism that will make a big difference to the climate and set us on a pathway to end all coal and gas.
- Stopped many of the 116 new coal and gas projects from going ahead:
We’ve secured a hard cap on pollution, which means pollution will actually now go down, not up, and the coal and gas corporations can’t buy their way out of it with offsets, which will mean many of the 116 new coal and gas projects in the investment pipeline cannot go ahead.
- Secured a legislated hard cap on pollution:
Pollution will go down, not up, and the coal and gas corporations can’t buy their way out of it with offsets. Before we started negotiating, real pollution under the safeguard could rise and coal and gas emissions were forecast to go up.
- Secured a Safeguard pollution trigger to stop coal and gas projects:
For the first time in history, the government must assess the impact new coal and gas projects have on the climate, and can stop them.
- Derailed the proposed Beetaloo Basin gas field:
We’ve forced the project to offset all emissions. This is a huge financial barrier in the way of the project proceeding. Its viability is now in question.
- Derailed the proposed Barossa gas field:
Santos will be required to offset all its CO2 emissions, placing a huge financial hurdle in the way of this project. Its viability is now in question.
- Required all new offshore gas fields to be net zero:
New gas fields feeding existing LNG plants will require their C02 emissions to be net zero
- Stopped dodgy offsets:
Low integrity offset generating “Human Induced Regeneration” ACCU’s will be stopped until they go through an independent audit. This could take up to a quarter of future offsets out of circulation.
- Stopped coal and gas funding:
The law the Liberal and National parties used to hand out millions in fossil fuel subsidies for projects such as the Beetaloo, will be changed to ban coal and gas funding. The new Powering the Regions Fund also cannot be used to fund new coal and gas. Earlier this month we also successfully stopped the National Reconstruction Fund being used to fund new coal and gas.
- Increased monitoring:
Methane monitoring of coal and gas projects will now be toughened, leading to deeper cuts in pollution.
- Secured sector by sector pathways to net zero:
The Climate Change Authority will now advise on transition pathways and plans by sector.
This is what we can achieve with the Greens in balance of power.
Over a million Australians voted to ensure that we’re holding Labor accountable on climate action every step of the way.
Because of you, we’re stopping new coal and gas projects in their tracks.
But the fight isn’t over.
In a climate crisis, Labor still wants to open more coal and gas.
The only obstacle to stopping all new coal and gas in this parliament is Labor and their fossil fuel donors.
The Greens will continue to
- push for a climate trigger in the environment law reform that will come before the Parliament next year
- continue to fight fossil fuel subsidies in the Budget
- back the fights of communities right around the country to stop new coal and gas