So much for MT's empty promise not to introduce an emissions trading scheme.
A few weeks after PM Turnbull made that promise, Jo Nova warned of a forthcoming breach of
I did warn that the Turnbull agreement with the Nationals to keep Tony Abbott’s climate policies means almost nothing. It’s easy for him to keep the “target” and shift towards an Emissions Trading scheme (ETS) and he and Greg Hunt are suggesting that already.And indeed, Turnbull and Minister Greg Hunt have achieved that already. (link)
National Greenhouse and Energy Reporting (Safeguard Mechanism) Rule 2015
I, Greg Hunt, Minister for the Environment, make the following legislative rule.
Dated 7 October 2015
Although there are many mentions of emissions, carbon dioxide does not get much of a mention - but here:
Climate: 'Safeguard' looks like 'ETS' by any other name
Environment Minister Greg Hunt has secreted the structure of an emissions trading scheme into the Turnbull government's Emissions Reduction Fund under the guise of a "safeguard mechanism".
The mechanism comes into force the day before the July 2 election but will not bite until 2020, when generous greenhouse gas emissions limits on 140 large industrial plants are due to be replaced by tough benchmarks.
The innocuous sounding device could evolve into a carbon pricing scheme broadly like those that brought down Labor prime ministers Kevin Rudd and Julia Gillard, as well as the Liberal leadership of Prime Minister Malcolm Turnbull in 2009.
"The safeguard mechanism could provide a base on which a broader baseline and credit system could be built," Australian Industry Group chief executive Innes Willox said.It must be noted that Greg Hunt has said: (link)
New safeguard measures to boost the Coalition’s Direct Action plan on climate change are not an emissions trading scheme or carbon tax by stealth.
Our policy is not budgeted to raise a single dollar of revenue.That is if you disregard fines.
When the Coalition’s safeguards mechanism takes effect from July 1, 150 companies, representing about 50 per cent of Australia’s total carbon emissions, would be capped at their highest level of emissions between 2009-10 and 2013-14.
Companies that fail to meet the cap will either be able to buy Australian carbon credit units created through the Direct Action policies or use an averaging of company emissions over a three-year period.
The maximum fine for failing to meet emissions caps will be $1.8 million.