"Australia Energy, Infrastructure and Resources Alert Emissions Reduction Fund Passed by Australian Parliament
by Jenny K. Mee, Renee Thomlinson
26 November 2014
Summary
On 24 November 2014 the Australian Parliament passed the Carbon Farming Initiative Amendment Bill 2014 (Bill) which puts in place the Emissions Reduction Fund (ERF). The ERF is the cornerstone of the Australian Government's Direct Action Plan climate change policy for the reduction of greenhouse gas emissions. It will provide AUD2.55 billion in financial incentives over four years for companies to voluntarily reduce emissions. The Government says its Direct Action Plan climate change policy will mean that Australia will meet the five percent emissions reduction target by 2020.
The Bill was passed by the Australian Senate on 31 October 2014. However, as last minute amendments were made before it was passed by the Senate, the Bill had to be returned to the House of Representatives for approval before it could be presented to the Governor-General for assent. Given the large majority held by the Australian Liberal-National Party coalition in the House of Representatives, as expected, the Bill was passed by the House of Representatives without issue."
Now we just need to get Vic election out of way and Gov settled in so we can hopefully see progress on the "several" brown coal projects sitting on the premiers desk.
All IMO so DYOR
B Rubes
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