Australia amends safeguard mechanism to reduce CO2 emissions
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Update time : 2023-03-30 16:47:44
The Australian federal Labor government was supported by the Greens party to approve the reformation of the safeguard mechanism, which was aimed to reduce CO2 emission by 43% by 2030 compared to the level in 2005.
The Greens party rejected calls to ban all new coal and gas projects but approved the amendment that all new gas developments must reach net zero scope 1 emissions.
Besides, the new safeguard mechanism set a cap on emissions, which means even if industries like coal and gas production grow, the carbon emission can’t increase.
