“The IPA welcomes the Coalition adopting the IPA’s policy platform to terminate net zero and dismantle its associated policies,” said Daniel Wild, Deputy Executive Director at the Institute of Public Affairs.
Today Dan Tehan, the Shadow Minister for Energy and Emissions Reduction, announced that a future Coalition government would terminate net zero. This includes several cornerstone policies long supported by the IPA, such as:
- Repealing the Climate Change Act (2022)
- Removing the safeguard mechanism
- Repealing the New Vehicle Efficiency Standard Act 2024
- Repealing all legislative prohibitions on nuclear energy
“The IPA was the first organisation in Australia to identify through its research and analysis the economic and social carnage that would be visited upon our nation because of net zero. It is very welcomed that the Coalition has now outlined its plan to rid our nation of this destructive, retrograde attack on the Australian way of life.”
Specifically regarding the Safeguard Mechanism, this is a policy which mandates large projects and facilities to reduce their emissions or purchase carbon credits to continue to operate. Previous IPA research found that facilities will incur a safeguard carbon tax cost between $7.1 billion and $11.7 billion by 2029-30.
“The Safeguard Mechanism is a danger to our sovereign capability, as almost nine-in-ten of all the facilities targeted are in critical industries we need to survive as a self-reliant nation, including mining and manufacturing.”
To download the IPA’s research on the Five Pillars of Net Zero click here.
To download the IPA’s research on the Safeguard Mechanism click here.
