The Albanese Government will seek to legislate its 2030 and 2050 emissions reduction targets, as part of its Climate Change Bill, to be introduced in the first week of parliamentary sittings.
Chris Bowen says he will introduce the Albanese Government’s Climate Change Bill during the first week of parliament sittings in late July.
The Climate Change and Energy Minister made the announcement during his National Press Club address in Canberra on Wednesday.
Mr Bowen outlined four key elements of the bill, which he said would help provide policy stability and certainty to the energy sector.
“Firstly, we will seek to enshrine in law our nationally determined contribution of 43 per cent emissions reduction by 2030 and net zero by 2050,” he said.
“Secondly we will explicitly task in law the Climate Change Authority to assess and publish progress against these targets and advise government on future targets including the 2035 target.
“Thirdly we will legislate a requirement for the minister for climate change to report annually to Parliament on progress in meeting our targets
“Finally as part of the consequential legislation we'll insert the nation's targets in the objectives and functions of a range of government agencies including ARENA, CFC infrastructure Australia and the NAIF.”
Mr Bowen said the Albanese Government would consider “sensible” amendments to its legislation but warned crossbenchers it would pursue its climate agenda even if it did not have the numbers.
“If there’s a good idea which improves, not undermines, the bill I’m happy to hear it and work with it, but we won’t be entertaining any amendments which are not consistent with our agenda and mandate,” he said.
“Just as we are being clear that we regard legislation as being best practice, we’ve also been clear that the legislation is not required and if the parliament doesn’t wish to pass it we’ll simply get on with the job as we have already started to do.”
Alongside the bill, the Albanese Government will seek to legislate tax breaks for electric vehicles (EV), which will take effect retrospectively from July 1.
The legislation will also lift import duties on a range of electric vehicles, as well as make some models exempt from the fringe benefits tax.
“We promised to cut the tariffs and abolish fringe benefits tax on affordable EVs from 1 July this year and that’s exactly what we will do,” Mr Bowen said.
“Of course, the Parliament doesn’t sit until late July, and so we will ask the Tax Office to make the tax cut retrospective, in accordance with usual procedure.”
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2022-06-29 04:47:15Z
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