The Climate Council, a Sydney-based environmental group, says the reform is the first Australian legislation to actually regulate greenhouse gas emissions in a decade.

According to a law adopted last September, Australia is required to reduce the country’s carbon dioxide emissions by 43% by 2030, and to zero by 2050.

The law was the first climate action since Labor came to power last May by defeating the Conservatives, who have been accused of inaction on climate change because Australia was one of the world’s biggest coal and gas exporters during their time in office.

In order to maintain this climate target set last year in Australia, a bill has been prepared, which

The 215 largest greenhouse gas emitters to reduce pollution by 4.9 percent annually or meet targets by purchasing carbon dioxide allowances.

This draft was voted 32-26 in the Australian Senate on Thursday, so it will go into effect on July 1.

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According to the Australian government, this is enough to ensure that emissions do not exceed the country’s current pollution level of 140 million tons per year, and this limit will decrease over time. The reforms are planned to reduce pollution levels in the country by a total of 205 million tonnes by 2030, which the government says is equivalent to removing two-thirds of cars from Australian roads.

The biggest polluters can then buy carbon dioxide allowances to meet their targets, but if they buy more than 30 percent of the allowances to reduce their emissions, they must explain why they are not doing more to reduce emissions.




HVG


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