Federal government’s climate change bill passes

Overview

After the federal government’s climate change bill passed through parliament, Australia will have a legislated emissions reduction target incorporated in law for the first time in its history.

Parliament passes the federal government’s landmark climate change measure, which establishes an emissions reduction goal. By changes from independent senator David Pocock, the bill was approved by the Senate on Thursday afternoon with a vote of 37 to 26 before being approved by the House of Representatives hours later.
The proposal, which still need royal assent before becoming law, will enshrine a 43% decrease in greenhouse gas emissions by 2030. (compared to 2005 levels). Additionally, it commits to having no emissions by 2050.

Mr Bowen, the Minister for climate change said, “The passage of the climate change legislation sends a message to the world that Australia is serious about driving down emissions, and serious about reaping the economic opportunities from affordable renewable energy. Legislating these targets gives certainty to investors and participants in the energy market and will help stabilise our energy system.

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Several organisations, including the Australian Chamber of Commerce and Industry, the Business Council of Australia, and the Australian Council of Trade Unions have praised the decision. As a significant election campaign pledge, the federal government promised to act on climate change. After receiving backing from the Greens and teal independents, the bill last month passed the lower chamber with a number of revisions.