Emissions increases approved by regulator may wipe out $260m of Direct Action cuts

Exclusive: Nearly 60 industrial sites get green light to increase emissions, cancelling out cuts paid for by Coalition using public moneyNearly 60 Australian industrial sites have been given the green light to increase greenhouse gas pollution, potentially cancelling out hundreds of millions of dollars of public spending on emissions cuts under the Coalition’s Direct Action climate policy.The increases have been quietly approved under the “safeguard mechanism”, which was introduced as part of Direct Action to ensure cuts paid for using the main part of the policy – the emission reduction fund – were not undone by emissions increasing in other parts of the economy. Related: Electricity retailers could defer emissions reductions under Coalition plan Emissions growth is outpacing the abatement from the emissions reduction fund, so what has been the point? Related: A great year for clean energy in Australia ends, while bad news for coal continues | Simon Holmes à Court Related: Coalition's climate policy review reveals it will loosen pollution safeguard Continue reading...