Labor backs zero net emissions, won’t use Kyoto credits

Labor has endorsed an uncosted carbon neutral target and ruled out financial support for new coal-fired power stations.

Anthony Albanese has ruled out Labor support for new coal-fired power stations. Picture: John Grainger

Labor has endorsed an uncosted carbon-neutral target of net-zero emissions by 2050 and ruled out ­financial support for new coal-fired power stations, setting up a climate change showdown with the Coalition.

Anthony Albanese, unveiling his first major policy since last year’s election, will deliver a speech on Friday accusing Scott Morrison of “cheating” on climate change and pledging that Labor will “never use Kyoto carry-over credits”. The Opposition Leader will say a net-zero emissions target has the potential to “result in higher wages, higher growth and lower energy costs”.

The climate policy was rubber-stamped by shadow cabinet last month after a two-hour meeting where senior figures raised concerns about committing to the 2050 target without modelling. When he speaks at a Per Capita think tank event in Melbourne, Mr ­Albanese will warn Australians are “living in dangerous times” and that national leadership was needed to deliver a “domestic climate change policy that gives us credibility to argue for international action”.

The Labor leader will confirm a draft ALP national platform will be released mid-year, revealing positions on key policy before the party’s December national conference. “This (a net zero emissions target) should be as non-controversial in Australia as it is in most nations,” Mr Albanese says.

“This will be a real target, with none of the absurd nonsense of ­so-called ‘carry-over credits’ that the Prime Minister has cooked up to give the impression he’s doing something when he isn’t.

“That’s not acting. It’s cheating. And Australians aren’t cheaters. A Labor government will never use Kyoto carry-over credits.”  Labor’s new climate policy, which replaces Bill Shorten’s ­ambitious target of a 45 per cent cut in emissions by 2030 and matches commitments from state governments, sets up a fight with the Prime Minister, who has adopted a technology target to drive down carbon pollution.

On coal-fired power stations, Mr Albanese will attack the government’s $4m feasibility study into a new plant in Collinsville, Queensland, describing it as ­“pathetic”.

“This is just hush money for the climate sceptics who are stopping any real reform and who stopped the national energy guarantee supported by Turnbull, Morrison and Frydenberg,” he will say.

“It’s pathetic. If it made sense the market would provide funding. The climate sceptics are market sceptics as well.

“Investors will not contribute because the economic risks are simply too great. The costs are higher and rising. And the cost of alternatives like renewables is lower and falling.”

Before Mr Albanese’s speech, Penny Wong claimed the price of not acting on climate change was “20 times higher than if we act”.

Labor senator Penny Wong. Picture: AAP

Invoking the clean energy wars that have crippled both major parties in the past decade, Mr Albanese will describe the inertia on climate change as a “waste”.

“History shows that Labor is the party Australians trust in ­moments of crisis,” he will say.

“And that’s why we have to take the lead on defending our country against the dangers of ­climate change. Not just adaptation, but prevention too.”

Energy Minister Angus Taylor said Labor had learned nothing from its “climate policy mistakes”.

“It’s a target without a strategy to get there, and a 2050 target is no substitute for a 2030 target,” Mr Taylor said.

Queensland pro-coal senator and former resources minister Matt Canavan said “there is a simple reason that Labor won’t cost its net zero emissions policy because net zero emissions equals net zero jobs”.