Business welcomes progress towards ending the impasse on climate and energy policy and delivering certainty about the future, Business Council chief executive Jennifer Westacott said.
“We’ve long supported the Safeguard Mechanism as a pathway to reducing emissions and we look forward to working through the detail of proposed amendments.
“Additional support for trade exposed businesses and workers as well as critical sovereign capabilities is a crucial step that will help save jobs and ensure Australian businesses are competing on the global stage.
“As designed the Safeguard Mechanism and its baseline targets are tough but achievable, so we’ll be working with members to assess the full impact of proposed changes.
“Businesses agree that we can’t make the same mistakes as the past by letting ambiguity and uncertainty undermine progress, Australia needs a credible, durable framework to reach its climate targets and grow the economy.
“Decarbonisation is a huge challenge for Australia but it’s also an opportunity but only if we have a workable plan in place to drive the monumental investment needed.
“We must avoid unintended consequences that hold up transition driving projects, investments in new and existing industries, or make it more difficult secure the capital needed to keep our economy growing.
“We appreciate the minister’s commitment to consultation on the design of this framework and we look forward to continuing to work through the details.”