Malcolm Turnbull (Wentworth, Liberal Party, Prime Minister) Share this | Hansard source

We are waiting to hear from Stanley Melbourne Bruce's election manifesto. That will undoubtedly be raised soon.

But let me say this. The honourable member says—the Leader of the Opposition says—that the government is not committed to action on climate change. The government is absolutely committed and will take to Paris a 26 to 28 per cent cut in emissions, which is comparable to other countries similarly situated. What the honourable member objects to is that the government does not have as one of its measures an emissions trading scheme. And that is true—we do not. It was repealed. It used to be coalition policy; it is not anymore. But the point is, as I have said many times in the past and am happy to say again: an emissions trading scheme is no more than one mechanism to reduce emissions. It is a means to an end; it is not the end. It is a piece of economic plumbing. And there are many ways to cut emissions. There is regulation of different kinds. There are a range of measures. There are renewable energy targets. If you look right around the world, different policies are being used and the only question that matters is: is it going to cut emissions?

An emissions trading scheme that does not cut emissions is no good. A regulatory system that does cut emissions is very good, because it does the job. The fact is that emissions trading schemes have worked better in theory than in practice over the last six or seven years. That is undoubtedly correct. The mechanisms we have in place and which the environment minister has carefully assembled and carefully explained in this chamber will result in Australia meeting the commitments we are taking to Paris: 26 to 28 per cent cuts in emissions. We will meet those targets. We will meet them with the measures we have. We will review our measures in 2017, and if they need adjustment—

Ms MacTiernan interjecting—

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