ANALYSIS: Despite seemingly irreconcilable differences, signs are growing that Bowen, Bandt and Pocock will clinch a landmark emissions policy deal.
Failure at this point would run counter to the spirit of last year’s election outcome, the primary message of which was that voters want concrete action, and send climate policy back over an abyss.want that, regardless of their public posturing. Yet focus on the headlines alone, and you’d think it is doomed.
Chris Bowen and Anthony Albanese have signalled they will not countenance a simplistic ban on new fossil fuel projects.Calls by the Greens to avoid new projects and divert into domestic needs any existing supplies of gas promised to foreign buyers are also not an option for Albanese, who hasincluding Japan’s Fumio Kishida last October that Australia will continue to be a reliable exporter.
Furthermore, a fossil fuel ban makes little sense in the context of the safeguard mechanism legislation before parliament, which would create an offset trading system for the country’s 215 biggest-emitting resources, industrial and manufacturing facilities.
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