Martin Ferguson (Batman, Australian Labor Party, Minister for Resources and Energy) Share this | Hansard source

I move:

That this bill be now read a second time.

The Australian government has developed a comprehensive plan to move to a clean energy future. This plan includes introducing a carbon price, promoting innovation and investment in renewable and low emissions energy—which I understand is very important to the constituency of North Sydney—encouraging energy efficiency, and creating opportunities in the land sector.

Central to the plan is the introduction of a carbon price to reduce greenhouse gas emissions, by encouraging more efficient use of energy and driving investment in cleaner energy sources. A price on carbon, coupled with the 20 per cent by 2020 renewable energy target, provide powerful incentives to find ways of lowering carbon emissions when we produce and use energy.

With the introduction of a carbon price in Australia, the government is focussed on ensuring that Australia's emissions reductions will be achieved at least economic cost, whilst maintaining adequate, reliable and affordable energy supplies and the international competitiveness of Australian industries.

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