Energy - Safeguard MechanisM
I continue to advocate for a strong and effective Safeguard Mechanism that will reduce industry emissions and contribute to our pathway to net zero.
You can listen to my speech here : Safeguard Mechanism Amendment Bill - 9 March 2023
I supported amendments to the Bill to tighten the definition and regulation of new entrants; creating a hierarchy of crediting that doesn’t rely on unlimited ACCUs; and to improve transparency and accountability.
It’s important that any existingfacilities that are planning expansions or extensions to their current operations aretreated as new entrants if their expansion will create a significant new level of emissions. We cannot allow current coal and gas projects to continue to expand and explore and emit without regulation. I will continue to support any amendment requiring new entrants to meet their baselines and targets without the use of ACCUs.
I supported amendments that create a hierarchy of crediting which requires facilities to first show they have taken steps to achieve genuine on-site emissions reduction before they can gain access to the purchase of SMCs or ACCUs to acquit their emissions reduction obligationsI would like to see reporting required to explain why abatement is not feasible.
The review in 2026 will need to take an honest look at whether the mechanism is delivering on our targets.”
The intensity of emissions from methane is very significant. , I also seconded the member for Warringah’s Private Members Motion on 6 March 2023 implementing the Global Methane Pledge.
The Safeguard Mechanism proposal is at risk of missing the opportunity for actual methane abatement – it would allow companies to buy offsets of carbon dioxide in place of cutting methane emissions. Offsets are not the solution - we need actual, rapid abatement and methane capture
Listen to my speech here: Global Methane Pledge - 6 March 2023