PM talks about low emission opportunities | Liverpool City Champion


Scott Morrison doesn’t think regional Australia has anything to fear from a transition to a less emissions-intensive economy.

Resources Minister Keith Pitt wants the coalition to consider establishing a $ 250 billion loan facility as a last resort for mining projects that cannot get private funding.

Asked about the proposal, the Prime Minister stressed the importance of “adopting a new energy economy” ahead of the Glasgow climate summit.

“I think Australia can do that and ensure that regions excel, that regions really go beyond their current prospects, and that is done by embracing a new energy economy and the technology to support it,” Morrison said. to reporters in Canberra. Thursday.

The government wants to be able to announce more ambitious emission reduction targets in time for the COP26 summit on October 31, but has not yet obtained the agreement of the junior coalition partner.

The Nationals have pushed for the agricultural sector to be exempt from all targets.

Mr Morrison called the ongoing negotiations with the nationals a “very good faith process”.

The Prime Minister maintained that Australia’s contribution to the fight against global warming was, on its own, relatively insignificant and that developing countries had to be involved.

He gave another indication that he would likely skip the Glasgow summit and instead send a top minister to the UN talks.

“We can all go to meetings. But what’s really going to change is the transformation brought about by new technologies,” Mr. Morrison said.

Mr Pitt, who represents Hinkler’s headquarters in Queensland, is one of the more vocal members of the coalition holding an emissions target.

“In Australia, we should not be dictated by the domestic policies of foreign financiers,” he told AAP.

Instead, he called on the government to consider a $ 250 billion loan facility to secure coal projects that banks and insurers would not fund.

“They (the mining projects) are perfectly viable, they are perfectly legal,” he said.

“Yet we have financiers and insurers who take an idealistic stance.

His proposal would be either to expand or to draw inspiration from the Northern Australia Infrastructure Facility, the Regional Investment Corporation or the Clean Energy Finance Corporation.

“(The mining industry) is a perfectly legal business, a perfectly profitable business, and one that will exist for many decades.”

Deputy Prime Minister Barnaby Joyce supported Mr Pitt’s request.

“I don’t like the idea that our sovereignty of our nation is determined by a financial arm of another country or a board member,” the Nationals chief told ABC radio.

Liberal MP Jason Falinski, representing Mackellar’s Sydney headquarters, thought it was a bad idea.

“Governments that get involved in lending money to private sector companies have never worked anywhere in the world. It’s not something we should be trying to do,” he said. declared.

Associated Australian Press

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