Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

I thank Senator Stewart for her question. It's a really important question, particularly on the day when we have the latest IPCC report. Right now the parliament has an opportunity to get Australia's biggest emitters to reduce their emissions. The safeguard mechanism reform is key to meeting our legislated emissions reduction target, which is something this chamber supported late last year—a 43 per cent reduction target.

The Liberal-National government wasted a decade with inaction on climate change—we all know that—but this reform will give the market and heavy industry the certainty that they have been seeking and asking for for some time. It will drive change amongst the 215 biggest emitters in the country, who represent 28 per cent of our overall emissions. If it's passed, it will take 205 million tonnes of carbon out of the air by 2030. That's the equivalent of taking two-thirds of the cars off Australian roads.

As former Energy Security Board chair and current chair of the Carbon Market Institute, Kerry Schott, has said about these reforms, they will 'drive decarbonisation in Australia's highest polluting industrial facilities'. She explained that 'it is designed to benefit the companies already doing a lot while allowing others to catch up without a prohibitive upfront expense'. The reform has strong and broad based support across the economy and the community. We are in good-faith negotiations with those senators who are engaged—none of those opposite, of course, who've dealt themselves out of any discussion. I support the comments made by Senator Lambie this morning on ABC Radio National, when she said: 'We could have had a starting point, though, in early 2011 and 2012. We missed that opportunity. This is a great opportunity. Let's pounce on it.'

At the last election the Australian people clearly voted for change. They wanted to end the climate wars, and we've got the chance to do that. (Time expired)