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FOR – Bills — Safeguard Mechanism (Crediting) Amendment Bill 2023; Second Reading

David Pocock

by leave—I move my second reading amendment on sheet 1890:

At the end of the motion, add ", but the Senate:

(a) is of the opinion that:

(i) public funding to Safeguard Mechanism facilities should only be provided where it will support genuine business transformation to decarbonise operations, and

(ii) access to the Powering the Regions Fund should be subject to the following restrictions:

a. fossil fuel producers should be denied access,

b. companies receiving funds must be prevented from using the funds to purchase Australian Carbon Credit Units, and

c. companies receiving funds must have a publicly available Corporate Transition Plan that includes measures being taken to reduce emissions and ensure transparency and identifies verifiable and quantifiable key performance indicators which track the success of transition actions, and must complete annual reporting on the implementation of the plan; and

(b) calls on the Government to:

(i) prevent Safeguard Mechanism facilities from surrendering Australian Carbon Credit Units unless there is a high degree of certainty that the abatement that they offer is real, additional and permanent,

(ii) implement the Chubb Review of Australian Carbon Credit Units in full as a matter of urgency, and

(iii) increase the funding available through the Powering the Regions Fund".

Question negatived.

Sue Lines

The question now is that the second reading, as amended, be agreed to.


Date and time: 10:58 AM on 2023-03-29
Senator Pocock's vote: Aye
Total number of "aye" votes: 31
Total number of "no" votes: 25
Total number of abstentions: 20
Related bill: Safeguard Mechanism (Crediting) Amendment Bill 2023

Adapted from information made available by