Josh Frydenberg (Kooyong, Liberal Party, Minister for the Environment and Energy) Share this | Hansard source

the equivalent of at least 1.3 times one year's global emissions. As it has been estimated, it will avoid up to 0.5 degrees of temperature rises by 2100, according to the United Nations Environment Program.

The Australian market is well placed for this domestic phase-down and industry supports the measures. Consumers will be able to use their existing equipment and systems until the natural end of life. In addition, the phase-down will leave a 15 per cent residual from 2036 to ensure that maintenance of hard-to-replace and existing equipment can continue.

Australia has a proud record of leadership in addressing ozone depletion and issues related to the Montreal Protocol. It is widely considered the world's most successful environmental protection agreement, being the only one with universal acceptance.

It has reduced the production and the import of ozone-depleting chemicals by over 99 per cent globally. Concentrations of ozone-depleting chemicals in the atmosphere are reducing, and scientists confidently predict the ozone layer will be repaired by the middle of this century in the mid-latitudes and about 20 years later in Antarctica. A truly remarkable achievement.

Through this bill, Australia, led by the Turnbull government, will continue to show the same leadership on HFCs. I commend it to the House.

Debate adjourned.

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