Jenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Hansard source

McALLISTER (—) (): It might be worth making some opening remarks. My last contribution, I think, was at around four o'clock this morning, and I elected at that time to keep my remarks brief so as not to detain the Senate. The business before the Senate today is important. Today we are a step closer to reaching net zero by 2050. It's my hope that by the time this debate is concluded we will have established important and enduring arrangements to assist Australia in this transformation. We seek to establish not just the steps that will take us towards meeting the target but also the steps that will ensure that our economy is geared up to take advantage of the economic opportunities that will come with that.

The Safeguard Mechanism (Crediting) Amendment Bill 2023, which is before the parliament this morning, will deliver 205 million tonnes of emissions reductions by 2030. That's equivalent to taking two-thirds of Australia's cars off the road. I make this point: these reforms are long overdue. They are sensible reforms, and they are designed to ensure that Australia's largest emitters remain competitive in a global economy that is decarbonising. They follow eight months and three rounds of extensive consultation with industry that covered facilities, consultation with the broader public and consultation in the parliament. This morning, I thank those parliamentarians who have constructively engaged with that process. Regrettably, that is not all of the parliamentarians in this place.

The reforms before us deliver the investment certainty that is required for the included businesses. The final changes, the amendments before the parliament today, will strengthen the scheme for strategic industries and for climate. They include providing improved flexibility and support for strategic industries and strengthening accountability, transparency and integrity.

I understand that a range of senators have general questions to put, so I don't intend to immediately move the government amendments that have been circulated. But I do indicate to the chamber that I will seek to do so relatively quickly so that the Senate may engage with the substance of what's before them.

People understand the history—that the safeguard mechanism was put in place by the previous government, and it was supposedly to keep a lid on the emissions of Australia's biggest emitters. But unfortunately, under the previous government, emissions were increasing. The reforms before us received wide support. That includes support from the Business Council of Australia, the Australian Chamber of Commerce and Industry, and the Australian Industry Group. The reason they support them is that these reforms finally deliver the policy certainty that's necessary to allow businesses to make investments—investments in their future competitiveness, investments that will allow them to meet their corporate net zero commitments that most of the carbon facilities already have; 80 per cent of the safeguard facilities and 85 per cent of the safeguard emissions are covered by corporate commitments to net zero.

We thank the people who have been involved in the consultation process. We thank the people who drafted submissions—hundreds of submissions. We thank the people who attended the round tables around the country and engaged closely with industry and climate groups. And we thank the people in the parliament who engaged in this in good faith. It is past time that we did this. We have had 10 years without a settled climate policy and as a consequence we have had 10 years without a settled energy policy, and that has real consequences for Australians. The reforms before us protect our climate and they protect our economy. These reforms should have bipartisan support. I look forward to the debate across the chamber.