Greg Hunt (Flinders, Liberal Party, Minister for the Environment) Share this | Hansard source

They have not even passed their legislation yet after all of this time. We have declared that dredge disposal in the Great Barrier Reef Marine Park has gone forever and we have put it in law. They are the things that we are doing.

Let me also turn to the Emissions Reduction Fund, because we have seen the reality that emissions are being reduced with a system that is being increasingly adopted around the world and by no less than the World Bank. It might be a little bit embarrassing for you to look at the World Bank's pilot auction facility—a system almost identical to the one we have adopted here in Australia. You know what? We have seen 47 million tonnes of emissions reduction at a cost of $13.95 per tonne, 144 projects right across Australia—real emissions reduction as verified by the Clean Energy Regulator, using the same methods and the same basis under the Carbon Farming Initiative which the ALP legislated. We used their model and their system, and the parliamentary secretary for the ALP demanded during the debate that we fund these very same projects through the CFI using the $2.55 billion Emissions Reduction Fund. It was your parliamentary secretary who demanded these projects be funded—it is there on the record.

Let me just deal with one other thing here, because I think it is important: the Prime Minister was asked about the comments of a particular firm, RepuTex, today. I would note this and I suspect they are right: they predicted that the Emissions Reduction Fund would achieve up to nine million tonnes of reductions in its first auction. In fact, we achieved more than 500 per cent of that outcome with 47 million tonnes—up to nine million tonnes or more than 500 per cent was the reality of 47 million tonnes. A year ago they said we would have a gap to fill of 300 million tonnes on top of the Emissions Reduction Fund between now and 2020. In an article on 12 June, they said Australia was now miraculously a year later highly likely to achieve our 2020 targets. On that occasion they were right: within a year they discovered that a 300 million tonne gap has evaporated.

We are going to achieve our targets. We are doing it on track. Their predictions were out by a factor of 500 per cent, and that is who you want to rely on? You guys are geniuses. You guys are absolute Einsteins. Honestly: pink batts and green loans—who is proud of them? Who is proud of the carbon tax? Because I can tell you: we are proud of having repealed it. We are proud of the Emissions Reduction Fund. The Prime Minister is proud of the fact that we are on track to achieve our targets in Australia, have ambitious international targets and reduce emissions in this country in a way which does not increase electricity prices for Australian families.

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