Plan to Curb Coal And Gas to Seal Key Australia Climate Pact
- Policy to rein in top polluters now expected to be approved
- Energy producers fall in Sydney trading on tighter rules
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Australia’s government expects to win approval for a flagship climate policy to rein in the country’s worst polluters after agreeing to rules that could curb development of new fossil fuel projects.
The country’s revised safeguard mechanism, which would compel around 215 of the nation’s most emitting industrial sites to cut greenhouse gas emissions by about 4.9% a year by 2030, will now be backed by the minor opposition Australian Greens and is likely to pass through Parliament before coming into operation from July.