Key points in Labor-Greens climate deal

·1-min read


* The bill will set a carbon emissions cut target of 43 per cent on 2005 levels by 2030 and net zero emissions by 2050, as set out in Australia's submission to the United Nations framework convention on climate change.

* Labor has modelling showing it will create 604,000 jobs by 2030, with five out of six of the jobs created in regional areas.

* The Greens remain concerned that there are 114 new coal and gas projects in the government's investment pipeline, but have offered to back the bill despite there being no guaranteed moratorium on coal and gas.

* The bill will ensure the target can only go up in future, with a mechanism in place to raise its ambition.

* There will be greater transparency, accountability and strengthened requirements on the Climate Change Authority.

* Government agencies - including Export Finance Australia, Infrastructure Australia and the Northern Australia Infrastructure Fund - will be forced to take climate targets into account in investment decisions.

* The safeguard mechanism - which requires Australia's largest greenhouse gas emitters to keep their net emissions below a limit or baseline - will be redesigned, with a discussion paper to be released later this month. The Greens' input will be considered.

* The government will consider a Greens proposal to support coal and gas workers and communities, including the establishment of a transition authority.

* Separately, the Greens will seek to amend the October budget if it includes "any public money, subsidies, handouts or concessions" to fossil fuel corporations.

* The minor party will also push for a "climate trigger" in environmental protection laws, but Labor has given no undertakings on supporting this.

* Labor remains open to other MPs' amendments where they are consistent with their election promises.

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