The Australian Government’s plan outlined today is one step closer to Australia meeting its international Paris commitments in a way which significantly reduces the economic impact on businesses and families.
An additional $2 billion in funding for the Emissions Reduction Fund, grants to businesses to improve energy efficiency and backing a second interconnector to Tasmania all offer the potential to unlock low cost emissions reduction.
This is important to help mining industry partners including farmers and remote indigenous communities reduce their emissions.
Greater cost reductions could also be achieved if access is allowed to credible and verified international offsets.
These offsets offer some of the lowest cost abatement opportunities and will be critical to help Australia fulfil its international commitments while also delivering broader environmental outcomes like protecting rainforests in the South East Asian region.