Zürcher Nachrichten - Australian parliament approves emissions caps on big polluters

EUR -
AED 4.257133
AFN 72.444674
ALL 95.829467
AMD 436.123898
ANG 2.075051
AOA 1062.979611
ARS 1619.927116
AUD 1.662949
AWG 2.089154
AZN 1.961607
BAM 1.952301
BBD 2.330054
BDT 141.955547
BGN 1.981418
BHD 0.437657
BIF 3435.911542
BMD 1.159192
BND 1.480234
BOB 8.011674
BRL 6.066866
BSD 1.156841
BTN 108.398101
BWP 15.851518
BYN 3.424861
BYR 22720.166462
BZD 2.326759
CAD 1.59725
CDF 2640.052316
CHF 0.915588
CLF 0.026946
CLP 1063.976571
CNY 7.989967
CNH 7.996768
COP 4295.177918
CRC 539.017545
CUC 1.159192
CUP 30.718592
CVE 110.069127
CZK 24.433505
DJF 206.01339
DKK 7.471961
DOP 69.303682
DZD 153.541818
EGP 61.030197
ERN 17.387882
ETB 178.839134
FJD 2.59688
FKP 0.866178
GBP 0.866444
GEL 3.135607
GGP 0.866178
GHS 12.639399
GIP 0.866178
GMD 85.201782
GNF 10139.737209
GTQ 8.859235
GYD 242.112884
HKD 9.073443
HNL 30.633166
HRK 7.53266
HTG 151.686795
HUF 389.417278
IDR 19603.098726
ILS 3.626359
IMP 0.866178
INR 108.882282
IQD 1515.48352
IRR 1522048.293968
ISK 143.797806
JEP 0.866178
JMD 182.557257
JOD 0.821883
JPY 184.301707
KES 150.347695
KGS 101.369619
KHR 4642.638094
KMF 493.815498
KPW 1043.28958
KRW 1737.930242
KWD 0.355153
KYD 0.964072
KZT 558.478935
LAK 24907.353963
LBP 103603.19292
LKR 363.638184
LRD 212.292217
LSL 19.722248
LTL 3.422794
LVL 0.701184
LYD 7.375874
MAD 10.784829
MDL 20.233731
MGA 4830.237703
MKD 61.61784
MMK 2434.497817
MNT 4137.699448
MOP 9.322989
MRU 46.138904
MUR 53.856252
MVR 17.920827
MWK 2005.961085
MXN 20.574276
MYR 4.585797
MZN 74.083768
NAD 19.722248
NGN 1594.596801
NIO 42.573321
NOK 11.261087
NPR 173.429893
NZD 1.994668
OMR 0.44571
PAB 1.156831
PEN 4.001527
PGK 4.996002
PHP 69.669724
PKR 323.20654
PLN 4.271217
PYG 7548.566992
QAR 4.218693
RON 5.094531
RSD 117.453971
RUB 93.320592
RWF 1692.415273
SAR 4.351013
SBD 9.322194
SCR 17.275706
SDG 696.674379
SEK 10.818566
SGD 1.483041
SHP 0.869694
SLE 28.523343
SLL 24307.692683
SOS 661.095037
SRD 43.284086
STD 23992.937445
STN 24.455952
SVC 10.122855
SYP 128.610351
SZL 19.720566
THB 37.944417
TJS 11.100346
TMT 4.068765
TND 3.393262
TOP 2.791056
TRY 51.41201
TTD 7.859911
TWD 37.055322
TZS 2976.294269
UAH 50.806534
UGX 4332.17858
USD 1.159192
UYU 47.146101
UZS 14113.701414
VES 531.927969
VND 30544.133989
VUV 138.532821
WST 3.174102
XAF 654.769215
XAG 0.015869
XAU 0.000255
XCD 3.132775
XCG 2.084963
XDR 0.814323
XOF 654.791769
XPF 119.331742
YER 276.58016
ZAR 19.668651
ZMK 10434.117463
ZMW 21.894039
ZWL 373.259405
  • RBGPF

    -13.5000

    69

    -19.57%

  • CMSC

    -0.0100

    22.87

    -0.04%

  • BCC

    1.6900

    73.57

    +2.3%

  • NGG

    0.2700

    82.33

    +0.33%

  • RELX

    -1.3500

    32.46

    -4.16%

  • JRI

    0.1800

    11.86

    +1.52%

  • BCE

    0.0700

    25.83

    +0.27%

  • AZN

    1.7100

    185.78

    +0.92%

  • RIO

    0.9300

    86.77

    +1.07%

  • GSK

    0.9600

    52.95

    +1.81%

  • BTI

    -0.1600

    57.76

    -0.28%

  • RYCEF

    -0.2800

    15.69

    -1.78%

  • CMSD

    -0.1100

    22.63

    -0.49%

  • BP

    1.2200

    44.79

    +2.72%

  • VOD

    0.1800

    14.66

    +1.23%

Australian parliament approves emissions caps on big polluters
Australian parliament approves emissions caps on big polluters / Photo: William WEST - AFP/File

Australian parliament approves emissions caps on big polluters

Breakthrough climate laws passed by Australia on Thursday will target the nation's worst polluters, forcing coal mines and oil refineries to curb emissions by about five percent each year.

Text size:

Experts said the laws signalled the end of Australia's bitter "climate wars" -- a decade of political brawling that has repeatedly derailed attempts to tackle climate change.

"It's the first time greenhouse gas emissions reduction has been written into Australian law," University of New South Wales sustainability expert Tommy Wiedmann said.

"That's obviously a good thing. We have a climate policy now," he told AFP.

The laws apply to 215 major industrial facilities -- each producing more than 100,000 tonnes of greenhouse gases a year -- and form the backbone of Australia's pledge to reach net zero emissions by 2050.

The government thinks it can stop 200 million tonnes of carbon being pumped into the atmosphere over the next decade.

Aluminium smelters, coal mines, oil refineries and other large polluters will be forced to cut their emissions by 4.9 percent each year.

The government struck a deal on the so-called Safeguard Mechanism after weeks of high-stakes bargaining with the left-wing Greens party.

Greens leader Adam Bandt said the laws compelled oil and gas corporations to slash their emissions "for the first time ever in law".

The previously sceptical Greens -- whose support was needed to pass the laws -- agreed to back the carbon plan after persuading the government to put a hard cap on emissions.

- Climate 'stalemate' -

Although many praised the laws as a crucial first step, Wiedmann warned Australia could not rest on its laurels.

"It's not enough on its own to reduce emissions and avoid dangerous climate change," he said.

"The hard decisions will come in the next few years."

Murdoch University sustainability expert Martin Brueckner said the plan ended Australia's climate "stalemate".

"In that sense, it is a step in the right direction."

Australia's mining industry has warned that the financial burden of compliance could lead to massive job losses.

"If we are not careful, some facilities in Australia will close," the Minerals Council of Australia said before the laws passed.

"Not only would that damage our economy and slash tens of thousands of regional jobs and billions in investment, it also would push the emissions reduction burden onto other nations that are less able or less willing to decarbonise."

Global mining giants Rio Tinto and BHP operate a number of mines and smelters that will be forced to make emissions cuts.

Australia's Climate Council has estimated that the 215 facilities are responsible for almost 30 percent of the country's total emissions.

P.Gashi--NZN