Reforming Australia's safeguard mechanism: an update
By Dr Emily Gibson, Annika Hellsing, and Dr Martin Smith
Australia is contributing to global efforts to reduce greenhouse gas emissions and transition to net zero. As a party to the Paris Agreement, Australia has committed to reducing emissions by 43% below 2005 levels by 2030 and reaching net zero emissions by 2050.2 One of the government’s policies to monitor and regulate emissions is the safeguard mechanism which applies to Australia’s largest industrial facilities. Significant reforms were enacted in 2023 that require safeguard facilities to reduce their net emissions in line with Australia’s emissions reduction targets. This paper updates the 2018 Parliamentary Library quick guide on the safeguard mechanism and provides an overview of the scheme as it currently operates.
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