Prime minister Malcolm Turnbull is reportedly considering pulling Australia out of the Paris Climate Accord.
Malcolm Turnbull (right) could join US President Donald Trump in opting out of the the Paris Agreement.
The Australian and the ABC are reporting the target may be abandoned to appease rebellious MPs not content with the National Energy Guarantee (NEG).
The Australian’s national affairs editor Simon Benson reports Turnbull has weakened his Paris Agreement stance “in a dramatic capitulation to rebel MPs and Ministers threatening to cross the floor and vote it down.”
According to the report, the 2015 agreement Australia made to reduce is emissions to a target of 26% below 2005 levels by 2030, “will be mandated through Ministerial order and only after advice from the competition regulator that it wouldn’t increase power prices,” The Australian reports.
The ABC is also reporting that cabinet ministers will meet on Sunday to discuss the energy policy, in a bid to quell the revolt from backbenchers like former PM Tony Abbott who originally signed Australia to the Paris Agreement but has since opposed it under Turnbull’s leadership.
“If we had known then (in 2015) what we know now about America’s withdrawal, about the economic damage renewable energy in particular would do to our power system and industries, we would never have signed up,” Abbott tols SkyNews in July.
The ABC is also reporting the government will support a list of price-conscious measures proposed by the Australian Competition and Consumer Commission, which aim to legislate default power prices for consumers, and ensure power companies don’t unfairly overcharge.
