Farmers for Climate Action has welcomed new amendments to the Safeguard Mechanism, which aims to reduce emissions from Australia’s biggest industrial polluters.
New amendments include the implementation of a hard cap on the emissions driving climate change, the reduced use of and improved scrutiny of carbon offsets and a freeze on the most controversial method of creating carbon offsets, known as the human-induced regeneration of tree cover.
Under the expanded Safeguard Mechanism, new gas facilities will be held accountable for their on-site emissions from day one, so they are not forcing other industries to make even deeper cuts to their own emissions.
Additionally, the mechanism seeks to ensure that public funding received through the Powering the Regions Fund is not directed to coal and gas projects and only supports future-focused industries.
According to Farmers for Climate Action CEO Fiona Davis, the group has already pointed out numerous times the perils of unlimited carbon offsets at a capped price taking over too much farmland.
She added that the agreement is a good start as it contains sensible measures, including having corporations justify their use of offsets for more than 30 per cent of their baseline.
“Giving incentives to businesses who are willing to reduce their actual emissions is a logical step, especially as it reduces reliance on offsets,” Davis noted.
She noted that reducing emissions will help protect Australian farms and enable farmers and rural communities to grasp new opportunities a shift to a low emissions economy brings, including tens of thousands of renewable energy jobs for regional Australia and diversification of farm income into selling offsets.
“These measures are a sensible beginning. We compliment the Government, Greens and cross bench on negotiating. We hope all MPs, including those from the Coalition, join future negotiations to create more certainty for farmers,” Davis said.
