Labor and Greens create ‘Safeguard Mechanism’ to limit emissions

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The federal government has struck a deal with The Greens to get Labor’s key climate legislation across the line.

Referred to as the ‘Safeguard Mechanism’, the bill forces the nation’s biggest polluters to reduce their emissions by close to 5 percent each year.

Labor says it’s key to Australia’s emissions target of a 43 percent reduction by 2030. Today’s deal with The Greens will impose a cap on emissions from top polluters, making it harder for new coal and gas projects to open.

However, some critics say it goes too far, while others say even more needs to be done to reduce emissions from households.

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