Australian parliament agrees on emissions caps on big polluters
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The regulations reportedly serve as the foundation for Australia's commitment to achieving net zero emissions by 2050.
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Large Australian coal mines will be among the polluters required to cut emissions by 4.9% a year under the new law. (AFP)
Australia passed landmark new laws, on Thursday, targeting the country's largest polluters, requiring coal mines, smelters, and oil refineries to reduce their emissions by around 5% annually.
"It's the first time greenhouse gas emissions reduction has been written into Australian law," University of New South Wales sustainability expert Tommy Wiedmann said, as quoted by AFP.
The regulations reportedly serve as the foundation for Australia's commitment to achieving net zero emissions by 2050 and are applicable to about 215 significant industrial units that each produce more than 100,000 tonnes of greenhouse gases annually.
The government believes it can prevent 200 million tonnes of carbon from being released into the environment over the following ten years by requiring those facilities to lower emissions by 4.9% annually.
The government said the plan will put an end to the brutal "climate wars" that have plagued the nation for ten years and repeatedly thwarted efforts to combat climate change.
It reached an agreement with the left-wing Greens party on the so-called Safeguard Mechanism after weeks of intense bargaining.
Adam Bandt, the head of the Greens, claimed that the laws required oil and gas companies to reduce their emissions "for the first time ever in law."
After convincing the government to impose a strict cap on emissions, the previously skeptical Greens—whose support was required to enact the laws—agreed to support the carbon plan.
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