‘Twiggy' Forrest-led business campaign demands Albanese go greener
Labor ducked a fight on emissions at the May election by delaying a decision on the interim target required by the Paris Agreement – the legally binding international treaty on climate change – but the government's Climate Change Authority is expected to force its hand when it delivers long-awaited advice within weeks.
Sources familiar with the authority's thinking expect it to urge a cut of 65 to 75 per cent by 2035, which could add weight to calls for the prime minister to use his large parliamentary majority to legislate an ambitious target, despite the United States turning away from climate action and withdrawing from the Paris Agreement.
The Paris Agreement signed by almost 200 parties including Australia commits countries to reducing their emissions via five year targets to avoid global average temperature increases of more than 2 degrees, and ideally 1.5.
The stoush over Australia's emissions comes amid a global reckoning on climate change agreements as many countries in Europe debate the merits of deep emissions reductions targets after years of sharp rises to the cost of living.
Big business is split on climate targets. The Business Council of Australia, which represents more than 100 of the country's largest companies, is divided between telecommunications firms and banks happier with steeper cuts and resources companies worried about a speedier transition.
As the council debates options, a new coalition of mostly left-leaning companies, called the Business for 75 campaign that includes mining giant Fortescue, has formed to call for larger cuts.
Fortescue, whose founder Forrest accompanied Albanese on his visit to China this month, said it would continue to push the government to have higher ambitions.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Sky News AU
17 minutes ago
- Sky News AU
‘They think laws don't apply to them': Wong slammed for not suspending Mehreen Faruqi
Shadow Attorney-General Julian Leeser says Foreign Minister Penny Wong should have taken on Shadow Foreign Affairs Minister Michaelia Cash's advice that Greens Deputy Leader Mehreen Faruqi should have been suspended for an anti-Israel act. Ms Faruqi has had sanctions placed on her because of the act, but Mr Leeser says the Labor government 'could've gone further'. 'It was a sign of a lack of leadership that Penny Wong has displayed that she didn't back Michaelia Cash's call to suspend her,' Mr Leeser told Sky News host Steve Price. 'I think a suspension is the right sort of thing. 'What we see again and again from the Greens is a sense that the laws and the conventions of our society don't apply to them.'
Sky News AU
an hour ago
- Sky News AU
ASX 200 see-saws as President Donald Trump edges closer to tariff deal with the European Union, Australia lifts beef ban
The ASX 200 has remained flat as Australia backs down from its US beef ban while Donald Trump inches closer to a major tariff deal. The index jumped 0.3 per cent in the early moments of trading before undoing its gains. It sat flat shortly after 11am, with no major swings either way. Auto parts company Bapcor dived more than 25 per cent after revealing three directors will exit and that trading had been weaker than expected over the last two months. Data company PEXA Group has jumped 8.1 per cent, while Fortescue, which revealed massive iron ore shipments over the 12 months to June, rose about 4.5 per cent. The European Union and the US are progressing towards a trade agreement that would see the EU pay 15 per cent tariffs, half the rate Trump said he would impose from August 1. It follows Trump revealing a trade deal with Japan earlier in the week, potentially signalling the US President's tariff war could be settling. Australians are also hopeful of some tariff relief after the Albanese government lifted its export ban on beef raised in Canada or Mexico and processed in the US. The Nasdaq grew 0.6 per cent on Wednesday, the S&P 500 jumped 0.8 per cent and the Dow Jones rose 1.1 per cent. Major European markets also rose with London's FTSE 250 Index jumping 0.4 per cent, Germany's DAX adding 0.8 per cent and the STOXX Europe 600 soaring 1.1 per cent. New Zealand's NZX 50 Index is up 0.3 per cent since trading began on Thursday, while Japan's Nikkei 225 has continued to soar and is up 1.1 per cent. Reports of Trump's trade deal with Japan have bolstered investors in the Land of the Rising Sun, pushing the index up about four per cent on Wednesday.
Herald Sun
2 hours ago
- Herald Sun
Labor lifts US beef ban amid tariff talks
Australia is lifting a ban on US beef from cattle originating in third countries, Agriculture Minister Julie Collins has confirmed. American beef imports have emerged as a key negotiating item in the Albanese government's efforts to secure a tariff carve out. The Trump administration has been pushing for Australia to loosen import rules to include beef from cattle originating in Canada and Mexico but slaughtered in the US. Anthony Albanese confirmed last month biosecurity officials were reviewing the request but vowed his government would not 'compromise' Australia's strict bio laws amid outrage from the Nationals and cattle farmers. Ms Collins on Thursday repeated the Prime Minister's vow. 'The Albanese Labor government will never compromise on biosecurity,' she said in a statement. 'The US Beef Imports Review has undergone a rigorous science and risk-based assessment over the past decade. 'The Department of Agriculture, Fisheries and Forestry is satisfied the strengthened control measures put in place by the US effectively manage biosecurity risks. 'Australia stands for open and fair trade – our cattle industry has benefited significantly from this.' The US last year rolled out new standards to trace all cattle brought into the country from Canada and Mexico. Similar to Australia's own domestic tagging system, the new US standards let authorities trace the bovines throughout the supply chain, all the way back to their originating farms. The move was first reported by the Australian Financial Review, citing an anonymous government source. Amanda Rishworth was the first Albanese government minister to publicly confirm the reporting. Appearing on Nine's Today early on Thursday morning, she rejected that Labor had not been transparent in its handling of the US demand. 'Obviously, for national security reasons, at times, governments of all persuasions haven't put everything into the public domain,' she said. 'But when it comes to what's known as the beef review … that review has been underway for a decade or over a decade, looking at how we can make sure that our biosecurity is safe. 'We will not compromise on biosecurity. 'That review has been undertaken and the Department of Agriculture, Fisheries and Forestry believe that there are the right controls in place in the US to lift that ban.' The ban's lifting comes just a day after Donald Trump announced a trade deal had been struck with Japan. The deal dropped the threatened blanket 25 per cent levy to 15 per cent, which is still higher than the universal 10 per cent Australia has. It also lowered the impost on Japanese cars to 15 per cent – the lowest rate of any auto-making country. 'Meeting with President Trump' Even the prospect of changing biosecurity laws was enough to spark fury from the Nationals last month, with the party's leader David Littleproud demanding Mr Albanese rule out any weakening of restrictions. Mr Littleproud's Coalition colleague, Liberal senator James Paterson, was noticeably cautious to give a read on the latest development when fronting Sky News. The opposition finance spokesman said that it is 'more easy than it ever has been to track the origin of species and cattle and other produce' and that 'there's no reason why that couldn't be done by other countries as well'. 'Perhaps the Prime Minister has found a way through this problem,' Senator Paterson said. 'But if he has, he should explain how he's done so. 'He should stand up today and explain to the beef farmers of Australia that there is no risk for their biosecurity and that he hasn't watered it down. 'But if he has watered it down, I think this is what's going to be a very difficult one for the government to explain.' The Albanese government was rattled earlier this month by the US President's threat to slap a 200 per cent duty on foreign pharmaceuticals. Australia exported some $2.2bn in pharmaceuticals to the US in 2024, making it the third-biggest export market. The Trump administration has also not kept secret it is mulling further sectoral tariffs to impose on top of baseline and so-called 'reciprocal' rates. While Australia dodged the reciprocal tariffs earlier this year, it has not been able to escape levies of up to 50 per cent on steel and aluminium. Senator Paterson said a 'meeting with President Trump' would be a better way to get a tariff exemption, pointing out that Mr Albanese has not yet secured a face-to-face with the US leader. 'It is inexplicable that Australia, traditionally a tier-one US ally, has gone this long without a meeting between our prime minister and a new president,' he said. 'It's extraordinary, frankly, countries who are far less close to the United States have managed to get audiences with the President in the Oval Office far earlier than this government even appears to have attempted to do so. 'So that is the critical thing that needs to be done if we're to secure a good trade relationship, and, frankly, also safeguard AUKUS and our important national security relationship as well.' While some governments have locked in trade deals with Washington, no country has managed to secure a complete exemption from the Trump administration's tariffs. Originally published as Labor lifts US beef ban amid tariff talks
