Well, we’re screwed. If Australians think their power bills are insane right now, just give it a few months. Thanks to the Greens and a handful of numb nuts like Jacqui Lambie, Labor are really set to put the screws on.
The Greens and several Senate crossbenchers have clinched a mega deal with the government to pass three major reforms on the final sitting day of the fortnight, including legislation to set up one of Labor’s key climate priorities – the Net Zero Economy Authority.
I’m sure it will be every bit the roaring success the “Climate Change Authority” has been.
Not content with saddling the taxpayer with another round of useless, money-pit ‘green projects’, the legislation puts a gigantic millstone around the necks of productive businesses.
The bill makes it mandatory for companies to disclose climate risks also passed the Senate on Thursday with Greens and crossbench support.
The legislation captures all businesses with a turnover of $50m over more, even as farmers and the Coalition called for agriculture to be carved out of scope 3 reporting requirements.
Scope 3 includes emissions along the supply chain, which are not generated directly by a company within its fence line or through its electricity consumption.
Farmers, who supply big supermarkets and other large companies that will have to make climate disclosures under the program, have warned their exports will consequently become less competitive
Because if there’s one thing farmers really need, it’s yet more paperwork.
Opposition treasury spokesman Angus Taylor said the new requirements, which he labelled a “green tape bomb”, would put Australia out of line with international peers, noting the US, Canada, Japan and “most of Australia’s trading partners” didn’t require the reporting of scope 3 emissions.
“The inclusion of scope 3 emissions reporting means big companies will pass risk and costs down their supply chain to their small business customers – this could be a farmer banking with a big company, a café owner in the lobby of a big company, a building supplier fitting out the office of a big company, or a manufacturer buying components from a big company,” he said.
The stranglehold of green tape is even worse than that, though. The legislation puts yet another colossal lawfare brickbat into the hands of vexatious activists.
“Activists may tell banks to stop lending to farmers who don’t do as they’re told. And a tradie doing office fit outs may have to work out the emissions from their ute and report it to the company they’re doing the fit out for […]
“Treasury analysis confirms these changes impose a $2.3 billion a year compliance cost on Australian businesses.”
And we all know who’ll end up paying the final bill.
