Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

progressing our Powering Australia plan and the Powering the Regions Fund and, in my own portfolio, establishing a climate risk disclosure framework and promoting sustainable finance. These plans are all about providing business with the investment certainty they need to help power new industries and create new jobs, while at the same time maximising our traditional economic strengths.

Central to this, of course, is the safeguard mechanism, which is currently before this parliament and has the overwhelming support of Australian business and Australian investors. The AIG, ACCI and the BCA, as the Prime Minister said, are all crying out for this to be passed through this place. It's also a policy supported by the Productivity Commission. The chair of the PC said yesterday:

That safeguard mechanism is essentially the best policy instrument available to drive reduced emissions.

Here's another quote backing the safeguard mechanism:

… that will help Australia's largest energy using businesses adopt new technologies that will reduce energy costs and emissions while maintaining or increasing their competitiveness.

That's what the member for Hume said when he was the most embarrassing part of the former government. That's what the member for Hume said at the time.

Australian businesses and Australian investors can't afford for this country to see the opportunities of cleaner, cheaper, more reliable energy continue to go begging.

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