The China Mail - Australian parliament approves emissions caps on big polluters

USD -
AED 3.672504
AFN 65.503991
ALL 81.893517
AMD 377.703986
ANG 1.79008
AOA 917.000367
ARS 1431.463704
AUD 1.424075
AWG 1.8
AZN 1.70397
BAM 1.658906
BBD 2.014216
BDT 122.30167
BGN 1.67937
BHD 0.377004
BIF 2963.603824
BMD 1
BND 1.273484
BOB 6.910269
BRL 5.23885
BSD 1.000025
BTN 90.583306
BWP 13.239523
BYN 2.873016
BYR 19600
BZD 2.011247
CAD 1.36432
CDF 2230.000362
CHF 0.775404
CLF 0.021785
CLP 860.180396
CNY 6.93805
CNH 6.93014
COP 3691.11
CRC 495.76963
CUC 1
CUP 26.5
CVE 93.526553
CZK 20.49104
DJF 177.720393
DKK 6.318604
DOP 63.114413
DZD 129.915817
EGP 46.860804
ERN 15
ETB 155.46494
EUR 0.84612
FJD 2.209504
FKP 0.738005
GBP 0.734505
GEL 2.69504
GGP 0.738005
GHS 10.990102
GIP 0.738005
GMD 73.000355
GNF 8778.001137
GTQ 7.670255
GYD 209.225001
HKD 7.81355
HNL 26.416279
HRK 6.375104
HTG 131.004182
HUF 319.673504
IDR 16847.65
ILS 3.110675
IMP 0.738005
INR 90.60355
IQD 1310.041816
IRR 42125.000158
ISK 122.690386
JEP 0.738005
JMD 156.517978
JOD 0.70904
JPY 157.06304
KES 129.004623
KGS 87.450384
KHR 4035.7261
KMF 419.00035
KPW 900.002243
KRW 1462.730383
KWD 0.30717
KYD 0.833355
KZT 494.785725
LAK 21489.944613
LBP 89557.410282
LKR 309.387392
LRD 188.003087
LSL 16.133574
LTL 2.95274
LVL 0.60489
LYD 6.332646
MAD 9.180641
MDL 17.050476
MGA 4439.468349
MKD 52.169828
MMK 2100.00747
MNT 3580.70414
MOP 8.047618
MRU 39.542143
MUR 46.060378
MVR 15.450378
MWK 1734.055998
MXN 17.260975
MYR 3.947504
MZN 63.750377
NAD 16.133574
NGN 1367.390377
NIO 36.803155
NOK 9.658735
NPR 144.932675
NZD 1.659792
OMR 0.384466
PAB 1.000025
PEN 3.364787
PGK 4.288489
PHP 58.458038
PKR 279.633919
PLN 3.568365
PYG 6607.462446
QAR 3.645108
RON 4.308404
RSD 99.305038
RUB 77.002259
RWF 1459.579124
SAR 3.750159
SBD 8.058149
SCR 13.731545
SDG 601.503676
SEK 9.004245
SGD 1.271104
SHP 0.750259
SLE 24.450371
SLL 20969.499267
SOS 570.497977
SRD 37.818038
STD 20697.981008
STN 20.780851
SVC 8.750011
SYP 11059.574895
SZL 16.130113
THB 31.539504
TJS 9.370298
TMT 3.505
TND 2.900328
TOP 2.40776
TRY 43.592904
TTD 6.771984
TWD 31.613038
TZS 2575.000335
UAH 42.955257
UGX 3558.190624
UYU 38.652875
UZS 12280.366935
VES 377.985125
VND 25950
VUV 119.988021
WST 2.726314
XAF 556.381418
XAG 0.012857
XAU 0.000201
XCD 2.70255
XCG 1.802328
XDR 0.692248
XOF 556.381418
XPF 101.156094
YER 238.403589
ZAR 16.024104
ZMK 9001.203584
ZMW 18.62558
ZWL 321.999592
  • SCS

    0.0200

    16.14

    +0.12%

  • CMSD

    0.0600

    23.95

    +0.25%

  • RBGPF

    0.1000

    82.5

    +0.12%

  • CMSC

    0.0050

    23.555

    +0.02%

  • NGG

    1.1800

    88.07

    +1.34%

  • AZN

    6.4200

    193.58

    +3.32%

  • GSK

    1.0650

    60.235

    +1.77%

  • RYCEF

    0.2600

    16.88

    +1.54%

  • RELX

    -0.7650

    29.325

    -2.61%

  • BCC

    2.4450

    91.605

    +2.67%

  • RIO

    2.2950

    93.415

    +2.46%

  • JRI

    0.0750

    12.955

    +0.58%

  • BTI

    0.8500

    62.81

    +1.35%

  • BCE

    -0.4100

    25.16

    -1.63%

  • BP

    0.8450

    39.015

    +2.17%

  • VOD

    0.4950

    15.115

    +3.27%

Australian parliament approves emissions caps on big polluters
Australian parliament approves emissions caps on big polluters / Photo: © AFP/File

Australian parliament approves emissions caps on big polluters

Breakthrough climate laws passed by Australia on Thursday will target the nation's worst polluters, forcing coal mines and oil refineries to curb emissions by about five percent each year.

Text size:

Experts said the laws signalled the end of Australia's bitter "climate wars" -- a decade of political brawling that has repeatedly derailed attempts to tackle climate change.

"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.

"That's obviously a good thing. We have a climate policy now," he told AFP.

The laws apply to 215 major industrial facilities -- each producing more than 100,000 tonnes of greenhouse gases a year -- and form the backbone of Australia's pledge to reach net zero emissions by 2050.

The government thinks it can stop 200 million tonnes of carbon being pumped into the atmosphere over the next decade.

Aluminium smelters, coal mines, oil refineries and other large polluters will be forced to cut their emissions by 4.9 percent each year.

The government struck a deal on the so-called Safeguard Mechanism after weeks of high-stakes bargaining with the left-wing Greens party.

Greens leader Adam Bandt said the laws compelled oil and gas corporations to slash their emissions "for the first time ever in law".

The previously sceptical Greens -- whose support was needed to pass the laws -- agreed to back the carbon plan after persuading the government to put a hard cap on emissions.

- Climate 'stalemate' -

Although many praised the laws as a crucial first step, Wiedmann warned Australia could not rest on its laurels.

"It's not enough on its own to reduce emissions and avoid dangerous climate change," he said.

"The hard decisions will come in the next few years."

Murdoch University sustainability expert Martin Brueckner said the plan ended Australia's climate "stalemate".

"In that sense, it is a step in the right direction."

Australia's mining industry has warned that the financial burden of compliance could lead to massive job losses.

"If we are not careful, some facilities in Australia will close," the Minerals Council of Australia said before the laws passed.

"Not only would that damage our economy and slash tens of thousands of regional jobs and billions in investment, it also would push the emissions reduction burden onto other nations that are less able or less willing to decarbonise."

Global mining giants Rio Tinto and BHP operate a number of mines and smelters that will be forced to make emissions cuts.

Australia's Climate Council has estimated that the 215 facilities are responsible for almost 30 percent of the country's total emissions.

V.Fan--ThChM