The federal Coalition has unveiled a plan to separate energy policy from emissions reduction entirely, but could not explain how it would still cut pollution if climate laws are gone.
📍On the ground: The National Account was at the Sofitel Sydney Darling Harbour on Wednesday for the Australian's gas industry-sponsored Energy Nation Forum, where Shadow Energy Minister Dan Tehan unveiled the party’s energy policy.
📢The announcement: Tehan set out an eight-point energy policy, saying: "We will take a chainsaw to Labor's ideologically driven, energy-restrictive approach to energy."
The eight points include repealing the Climate Change Act, which would remove Australia's legislated net zero by 2050 target, and removing the safeguard mechanism, which requires the country's largest industrial polluters to cut emissions over time.
Other measures include repealing the New Vehicle Efficiency Standard, revoking four offshore wind zones, and repealing legislative prohibitions on nuclear energy.
The safeguard mechanism, brought in by the Coalition in 2016, covers Australia's 208 biggest industrial sites, from coal mines and gas fields to manufacturing plants. Together they produce almost 30% of the country's emissions.
Climate Change and Energy Minister Chris Bowen said the Coalition's plan "will make Australia poorer, weaker and less secure from global shocks."
❓What replaces it: Tehan was asked at the forum how the Coalition would ensure emissions don't rise once the safeguard mechanism is gone. His answer? Trust corporations to do the right thing.
🗣️ "We've got a lot of good corporate citizens in Australia who are very serious about wanting to reduce emissions. So let them set their targets and let them set their goals and let them go about achieving it." Tehan said.
After being pressed on whether that meant the safeguard mechanism wouldn't be replaced with anything, Tehan said: "You'll have to wait and see what our emissions reduction policy is."
A separate emissions reduction policy is yet to be released.
Watch the National Account's Archie Milligan below: