The Safeguard Mechanism is one of the few levers government has to reduce industrial emissions. It covers the 215 biggest emitters in Australia (not including the electricity sector) which release 28% of Australia’s emissions. It has been in place for some years but until now it has been weak and ineffective.
If managed properly, the Safeguard Mechanism would make quite a few new coal and gas mines uneconomic, which would be a great outcome for Australia and the climate.
We support the introduction of the Safeguard Mechanism but the design has to ensure targets are reached with scientifically valid methods.