The cost of complying with the Albanese government’s flagship emissions reduction policy for big industrial facilities may need to more than triple by the end of the decade if Labor is to meet the top end of its new 2035 climate target.
Under the government’s Safeguard Mechanism, more than 200 big emitters in the mining, oil and gas, manufacturing, transport and waste sectors are required reduce their emissions by 4.9 per cent annually, either through direct cuts or via the purchase of carbon offsets.
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