Graham Perrett (Moreton, Australian Labor Party) Share this | Hansard source

Sorry, Pat. The $20 billion Rewiring the Nation investment will modernise the grid and provide the country with more renewables, more transmission and more storage. Any facility that emits over 100,000 tonnes of emissions will be included in the safeguard mechanism, which is a little like that trade-exposed industries mechanism in the old CPRS. The safeguard mechanism reforms will work with big emitters on a trajectory to net zero by 2050. We've got to be sensible and get the trajectory right. Large listed companies and financial institutions have been calling for mandatory climate disclosure standards and will need to disclose their emissions under new standards, ensuring investors have all the information they need to make sustainable investment decisions. This government aims to tackle climate change from all sides, reducing greenhouse gas emissions overall, creating new jobs in the renewable energy sector and ensuring fair support and protections for workers transitioning out of fossil fuel industries.

My electorate has been subject to devastating floods—back in 2011 and again in February this year. These floods hit my community hard. I know that the people of Moreton are resilient. I know they're rebuilding their homes and their lives, but it's tough. It's challenging. And people are very, very tired. They're tired of inaction when it comes to responding to climate change, so I hear their anguish. We know that we're going to face more frequent and more severe disasters because of climate change. That is what the CSIRO tells us. This is the reality, and individuals can only do so much, but that is not a reason to do nothing, which seems to be the argument proselytised by those opposite, particularly the member for Flynn. I know that those opposite have indicated they will not support our climate change legislation, although it was great to hear one of them say that they would be backing it tonight. That was someone who actually got an increased margin in the recent election. I can't understand, when your party loses the election, why you would do that.

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