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Climate change minister: many industries cannot comply with emissions reduction without offsets

What about what David Pocock wants – limits on the number of carbon credits big polluters can use? Chris Bowen says:

My position publicly is the same as it is privately – that if you put hard caps on carbon credits when you’re requiring 4.9% emissions reduction each and every year, then that is a problem, because you’ve got industries which won’t be able to comply with that without without accessing [credits].

Now, people say you can’t offset your way to net zero and you can’t offset your way to the 1.5 degrees. And I agree with that.

Mr Bandt with respect says ‘well, there’s this pipeline of projects and Labor wants to approve them’, now that is not the case.

What there is, is a register of projects which companies have … filled in and said one day we might want to develop this or we’re interested in developing this … many of them are yet to get environmental approvals, finished final investment, decisions for board approval, insurance, finance, etc.