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Labor unveils climate targets ahead of the start of pre-election campaign

Courtney GouldNCA NewsWire
Labor is set to announce it’s long awaited climate commitment as early as Friday. NCA NewsWire / Martin Ollman
Camera IconLabor is set to announce it’s long awaited climate commitment as early as Friday. NCA NewsWire / Martin Ollman Credit: News Corp Australia

Anthony Albanese has unveiled his $600 million plan to cut Australia’s emissions by 43 per cent by 2030 as Labor sets its sights on the next election.

His long-awaited climate policy was unveiled after a special meeting of the Labor caucus signed off on the plan earlier on Friday morning.

The target falls just short of the 45 per cent target Labor took to the last election - a policy Mr Albanese had previously labelled a “mistake”.

But with modelling in hand, the opposition leader on Friday told reporters his policy would create over 600,000 jobs and cut household power bills by $275 a year by 2025.

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“What we didn‘t do was adopt a target and then work back,” Mr Albanese said.

ALBO NEXO EV
Camera IconLabor is set to announce it’s long awaited climate commitment as early as Friday. NCA NewsWire / Martin Ollman Credit: News Corp Australia

“This plan will ensure that no business and no worker is left behind. It ensures that Australia can take our place, which we should, as a renewable energy superpower for the world.”

Mr Albanese has been under pressure for some time to release his party’s mid term targets, and is hoping the will of the people to adopt a major climate target, paired with new friends in unlikely places such as the Business Council of Australia could work in their favour.

The BCA, who campaigned heavily against Labor’s carbon price and called the party’s 2019 targets “economy wrecking”, backflipped earlier in the year to adopt a net-zero by 2050 policy.

As flagged by shadow climate and energy spokesman Chris Bowen last month, Labor will adopt the BCA’s proposal to expand the government’s existing safeguard mechanism.

Under the voluntary scheme, incentives are provided to organisations who reduce their carbon emissions. A carbon credit unit is earned for each tonne of carbon dioxide stored or avoided.

Participants can sell this carbon unit to the government or in a secondary market to other emitters to reduce their carbon footprint.

The proposal has been previously branded by Energy Minister Angus Taylor as a stealth carbon tax.

FEDERAL PARLIAMENT
Camera IconLabor has been under pressure to release it’s emissions target. NCA NewsWire / Martin Ollman Credit: News Corp Australia

The Morrison Government’s current 2030 target is a cut of 25 to 38 per cent on 2005 levels. But Scott Morrison insists Australia is on track to better that commitment and cut emissions by up to 35 per cent.

Speaking ahead of Labor’s formal announcement, the Prime Minister said Mr Albanese’s policy was “unsafe” and would put people out of jobs.

“A 43 per cent target isn‘t safe for the Hunter. It’s not safe for Gladstone. It’s not safe for Bell Bay. It’s not safe for our manufacturers. It’s not safe for jobs,” he said.

“Labor’s learnt nothing since the last election ... when oppositions don't learn in opposition, that doesn’t mean they’re safe, they’re just as dangerous as they’ve always been.”

But Mr Albanese said his plan was consistent with calls from countries at the Cop26 in Glasgow for Australia to lift its climate ambitions.

“This is the right plan for Australia going forward. It is the plan that acknowledges what business wants. It is the plan that acknowledges that the world economy is demanding this.”

Originally published as Labor unveils climate targets ahead of the start of pre-election campaign

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