Safeguard Mechanism: $600 million can no longer go to coal and gas

by Callum Foote | Mar 28, 2023 | Lobbyland

In passing the Safeguard Mechanism Amendment Bill, Labor’s only major emission reduction legislation on the block, Labor has also agreed to rule out any spending on fossil fuel infrastructure from the $600 million Safeguard Transformation Stream.

While the Safeguard Mechanism has been widely criticised for permitting the expansion of new fossil fuel developments throughout the country, an amendment put forward by North Sydney independent Kylea Tink prevents the government from siphoning funds into fossil fuel subjects.

As suggested by MWM’s budget coverage from October, there was little detail in Labor’s $1.9 billion Powering the Regions fund that suggested it would not be used for fossil fuel infrastructure.

Tink’s amendment prevents just that, ensuring the $600 million Safeguard Transformation Stream, is off-limits to new, or expanding, coal and gas projects. 

Safeguard Mechanism is great … for big polluters and landowners, not so much for the planet

Callum Foote was a reporter for Michael West Media for four years.

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