Big business welcomes Labor’s industry-focused climate policy

Big business is backing the Labor party’s climate policy to cut greenhouse emissions 43 per cent by 2030, setting the scene for a bitter election battle between the major parties over the economic costs and opportunities of climate change.

Labor’s more ambitious policy, which is 8 per cent higher than the federal government’s goal, is driven by higher uptake of renewable power in the electricity grid than the Coalition’s projections. It also plans to fire up a dormant regulation known as the safeguard mechanism to ratchet up limits on industrial emissions, which major business groups support.

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Jobs and growth.

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