Australia’s Top Polluters Will Get $600 Million to Reduce Emissions by 5 Percent Every Year

A section of the Queensland Alumina Refinery in Gladstone, Queensland, Australia, on Jan. 18, 2012. The Refinery which opened in 1967 is one of the largest by Alumina production in the world. AAP Image/Dave Hunt

Australia’s biggest polluters will be required to reduce their net emissions by almost 35 percent by 2030 under the federal government’s new safeguard mechanism reforms.

Minister for Climate Change and Energy Chris Bowen said the reforms will support the country’s biggest emitters to remain competitive in a global economy while they work to reduce emissions.