'Fake action': Labor will not use Kyoto credits in major new emissions package


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In a compromise to corporate Australia, businesses that emit more than their baseline threshold will also be able to purchase offsets internationally.


“There will be no carbon tax, carbon pricing mechanism, or government revenue,” said Mr Shorten.


“Rather, Labor will reduce pollution from the biggest industrial polluters by extending the existing pollution cap implemented by Malcolm Turnbull – the safeguard mechanism.”


For households, Labor will give $2000 rebates for solar batteries for 100,000 households and set a target of 1 million batteries by 2025.


Vehicle emissions standards will also be improved – a move Labor claims will save motorists up to $500 a year from more efficient fuel.


Article source: https://www.smh.com.au/business/companies/billionaire-investor-kerr-neilson-s-fund-comes-unstuck-on-china-bet-20190109-p50qcn.html?ref=rss&utm_medium=rss&utm_source=rss_feed

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