Federal Opposition Leader Bill Shorten has outlined his party’s climate policy ahead of the federal election later this year.
Under the policy framework, the nation will reduce pollution levels by 45 per cent on 2005 levels by 2030 with an aim to transition to a net zero pollution level by 2050.
The proposed plan will also see:
$2000 rebates for solar batteries for 100,000 households with a target of installing one million batteries by 2025.
Doubling of the original investment in the Clean Energy Finance Corporation to $10 billion
Extending the existing safeguard mechanism to cap pollution for 250 of Australia’s largest polluting companies.
A $300 million Strategic Industries Reserve Fund to support heavy industries in their transition to lowring emissions.
“Labor will restore and reform important institutions like the Climate Change Authority, to make sure we can adapt to a changing climate,” Mr Shorten said.
The announcement drew quick praise from the Climate Council, who said that Labor had distinguished itself by presenting a “far superior policy”.
“The last Angry Summer of extreme heat, fire and floods shows we are facing a climate crisis. The difference between the two major parties on addressing climate change is now as stark as night and day. Bill Shorten has a fire truck, while Scott Morrison is holding a watering can,” said the Climate Council’s CEO, Amanda McKenzie.
“Thousands of jobs will be created as we continue this transition, providing a boost to the economy and significantly more renewable energy. This will increase supply and bring down power prices.”