Wayne Swan (Lilley, Australian Labor Party, Treasurer) Share this | Hansard source

in reply—I compliment the member for Shortland on her contribution to this debate. The National Greenhouse and Energy Reporting Amendment Bill 2008 is a very important instrument in our fight against climate change because it will assist the gathering of accurate data. Accurate data is critical to the development of an emissions trading system and certainly to the development of our Carbon Pollution Reduction Scheme. Having effective mechanisms in place to measure emissions is absolutely vital for public confidence in the operation of emissions trading. And of course we do need emissions trading in this country. Our green paper on the Carbon Pollution Reduction Scheme canvasses the implementation of a market based mechanism that will reduce carbon pollution and will do so according to the laws and principles of the market. Putting a price on carbon is the most cost-efficient and the least distorting way of reducing carbon pollution in our economy.

This bill is an important element of an emissions trading scheme because it gives us access to accurate data. Fortunately, I think that most in the community and in the business community now recognise that climate change is real. They recognise that action is required. And the Rudd government is committed to addressing this problem. That is why the National Greenhouse and Energy Reporting Amendment Bill 2008 seeks to clarify and confirm the obligation of those emitting greenhouse gases as an emissions trading scheme is being carefully considered and developed. By improving the availability and the reliability of information on energy use and greenhouse gas emissions through the proposed amendments, we are arming ourselves with the knowledge needed to make effective changes in legislation and in our choices as consumers. The bill highlights the shared obligations of government, corporations and individuals to ensure there is a sustainable future.

This bill does establish the framework for the collection of high-quality greenhouse and energy data. This data will be used to inform government policy, meet Australia’s international reporting obligations and allow for the elimination of duplicated greenhouse gas and energy reporting requirements in government programs. The act also provides data which will be used in the development, as I said before, of our Carbon Pollution Reduction Scheme. This bill will enhance the act by allowing the public and investors to access more information on greenhouse gas emissions and the energy performance of Australian corporations. So this bill will improve the administration of the act, simplify the registration process for Australian corporations and clarify detail relating to the auditing of corporation reports. The act facilitates a reduction in the number of reports that businesses are required to submit under the current patchwork of greenhouse and energy programs across all jurisdictions. This bill confirms the government’s commitment to ensuring the system is implemented efficiently and effectively to reduce the regulatory burden on Australian corporations.

I would like to thank all of the participants in this very important debate. We all now understand in this country—or, certainly, those of us on this side of the House understand—how important it is in tackling dangerous climate change that we deal with this as an economic issue. It is fundamental to our prosperity into the future that we become, as an economy and as a society, cleaner in the use of fuels. This is particularly important. That is why this debate has been mature, with the exception of one or two contributions from those on the other side of the House. We are actually serious about dealing with dangerous climate change, unlike those on the other side of the House, who cannot make up their minds which way they are going. Party meeting after party meeting—and still we cannot find out what they stand for. We cannot find out where they are going or what they are doing.

Question agreed to.

Bill read a second time.

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