More than 100 of Australia’s biggest greenhouse gas emitters from the mining industry want Labor to cap theto stop speculators making offsets so costly that resources firms are forced to prematurely close mines.
Tania Constable, chief executive officer of the MCA, whose members account for more than half of the 212 facilities under thethat release more than 100,000 tonnes of carbon a year, said the resource industry feared the lack of a price cap on offsets similar to ones that exist in Canada, the UK, Europe and in some states.
“This is critical to the future of mining and future investment in Australia,” said Minerals Council of Australia chief executive Tania Constable.Australia’s national 43 per cent target puts the economy on an ambitious trajectory to cut annual emissions from about 500 million tonnes in 2021 to about 350 million tonnes in 2030, leaving an effective nationwide “emissions budget” of 4380 million tonnes over that period.
Yes there needs to be some type of regulatory system in place.