This clause assists readers with a simplified outline of the Part, which concerns the preparation and tabling of the annual climate change statement. Greenhouse and Energy Minimum Standards Act 2012. This clause provides an independent statutory role for the Climate Change Authority to provide advice relating to the statement, which would have a particular focus on assessing progress being made in achieving the targets. First, to set in legislation Australias greenhouse gas emissions reduction targets, being a 43% reduction from 2005 levels by 2030 and net zero emissions by 2050; Second, to require the Minister for Climate Change to deliver an annual statement to Parliament describing Australias progress towards achieving its emissions reduction targets, relevant international developments, climate change policy and the effectiveness of Commonwealth climate change policies in contributing to achieving the targets; Third, to provide that the Climate Change Authority give the Minister advice in relation to the annual statement; Fourth, to provide that the Climate Change Authority advise the Minister at least every five years in relation to the setting of future emissions reduction targets to be included in new Nationally Determined Contributions, and to advise the Minister in relation to emissions reduction targets in adjusted Nationally Determined Contributions. As with all of its functions, the Authority is guided by the principles in section 12 of the, take account of the impact on households, business, workers and communities; and, support the development of an effective global response to climate change; and. The Intergovernmental Panel on Climate Change (IPCC) in its Sixth Assessment Report provides clear scientific basis for increased ambition, urgent action and a focus on the transition to a net zero emissions world. Part 4Advisory functions of the Climate Change Authority, Clause 13: Simplified outline of this Part. As the Colorado River shrinks and Arizonas share of the water continues to be cut, Cobb told CNN the states approach to groundwater has been unthinkable. The Inflation Reduction Act of 2022 [PDF], approved by Congress and signed by President Joe Biden in August, is set to deliver the largest investment in climate action in U.S. history. The 2030 target does not constrain even greater emissions reductions. If the statement is not completed until the deadline of 31 December, it would be tabled within the first 5 sitting days of the new year. "It's an absolutely transformative package," said Stokes. 26. Groundwater overflow from afternoon irrigation puddles on Al Dahra farmland. This clause requires the Minister to arrange for periodic independent reviews of the operation of the Act. endobj 2. The $369 billion climate and tax bill would affect every aspect of U.S. energy production, with incentives for producers and consumers to move away from fossil fuels. Australias successive nationally determined contributions under the Paris Agreement will set out the trajectory to achieve the 2050 target and keep net emissions to net zero or lower thereafter. I dont want to be around a lot of people. Again, this is intended to firmly embed accountability of the government, and transparency regarding the decisions made about climate change policy. It is expected that the relevant Minister would address the Parliament on the written statement and invite comment from others in Parliament on this important issue of economic and environmental reform. Indeed, there is nothing illegal about foreign-owned farming in the US. and (iii) Australias greenhouse gas emissions reduction targets; (iia) Australias greenhouse gas emissions reduction targets; and. Paragraph 12(1)(c) ensures general issues for climate change policy are also included, such as in relation to climate change adaptation. Australias successive nationally determined contributions under the Paris Agreement will set out the trajectory to achieve the 2050 target and keep net emissions to net zero or lower thereafter. Subclause 10(2) sets out the rules that the targets in subclause 10(1) are to be interpreted consistently with the Paris Agreement and relevant nationally determined contribution as submitted or adjusted from time to time. Omit Division4 sets out general provisions about the supply and use of GEMS products, and in particular the potential constitutional limitations that might apply.. This bill will make historic investments to ensure that rural communities are at the forefront of climate solutions. For the 10 year emissions budget, Australia assesses progress towards its2030target by comparing cumulative netemissions over the period 20212030 with the emissions budget for the period. The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs. This ensures the relevant Minister is accountable to Parliament for the achievement of the targets. 4 0 obj Article 4 includes a number of protections against the weakening of nationally determined contributions, including Article 4.3 stating each. The impacts of climate change are already being felt in Australia and Australias policy framework needs to reflect the joint challenges of mitigation and adaptation. makes consequential amendments to existing federal legislation in order to support the effective implementation of the Climate Change Bill 2022. Subclause 17(2) ensures public consultation is included in the review process so that a range of views and perspectives can be obtained in relation to the operation of the Act. to them, please see the House of Representatives Votes and Proceedings, and the The table in this clause sets out the commencement date for when the Bills provisions commence. Subclause 15(4) ensures that the Minister takes into account the relevant advice provided by the Climate Change Authority in preparing future nationally determined contributions, without precluding other relevant advice (as clarified by subclause 15(5)). Both targetsare economy-wide emissions reduction commitments, covering all sectors and gases included in Australias national inventory. It is not limited to the anticipated emissions outcome for the relevant financial year, but includes how Australia is tracking towards the 2030 and 2050 targets. Hay bales are stored at Al Dahra Farms in Wenden. Im sorry, but theres no Saudi Arabian milk coming back to Southern California or Arizona. "This bill does not arbitrarily shut off our abundant fossil fuels," said Manchin, who has sought for months to preserve federal oil and gas leasing projects and natural gas pipelines in talks on the bill. It is expected that the relevant Minister would address the Parliament on the written statement and invite comment from others in Parliament on this important issue of economic and environmental reform. R3W6N6 USA, Alaska, Katmai National Park, Kukak Bay. Omit the Clean Energy Act 2011, substitute this Act. 28. (1) This Act applies to the following supplies of a product: (a) supply of the product, being a supply whose regulation is reasonably appropriate and adapted to give effect to Australias obligations under: (iii) another agreement between Australia and one or more other countries; (b) supply of the product by or to a constitutional corporation; (c) supply of the product in the course of constitutional trade or commerce; (d) supply of the product using a postal, telegraphic, telephonic, or other like service (within the meaning of paragraph51(v) of the Constitution); (e) supply of the product by or to the Commonwealth or a Territory, or by or to an authority or instrumentality of the Commonwealth or a Territory; (f) supply of the product occurring in a Commonwealth place or a Territory. The company did provide a statement to the Arizona Republic for a story published in 2019: Water resources in Arizona must be managed wisely in order to preserve our quality of life and to protect the states economic health, Al Dahra said. (b) in any other casethe greenhouse gas emissions reduction targets included in: (i) Australias current nationally determined contribution communicated in accordance with Article 4 of the Paris Agreement; or. 2 Commencement. The company spent $47.5 million to buy nearly 10,000 acres of land there in 2014, and it leases additional farmland from the state. 19. 34. Omit For the purposes of the application of the definition of Kyoto Protocol to paragraph(c), if the Doha Amendment is not in force for Australia, the Doha Amendment is taken to be in force for Australia.. Subclause 15(6) ensures the Authoritys advice is made public, providing transparency and helping guarantee the independence of the advice. Clause 7: Extension to external Territories. This clause assists readers with a simplified outline of the Part, which relates to periodic reviews of the Act. (iv) any other international agreement relating to climate change; or. It embeds Australia's greenhouse gas emissions reduction targets into the objects and functions of a range . Our Standards: The Thomson Reuters Trust Principles. This ensures the legislated targets are accounted for consistent with relevant international rules that relate to those targets. Article 4 includes a number of protections against the weakening of nationally determined contributions, including Article 4.3 stating each Party's successive nationally determined contribution will represent a progression beyond the Party's then current nationally determined contribution and reflect its highest possible ambition and Art 4.11 ensuring adjustments are with a view to enhancing its level of ambition. Climate Change Bill 2022 No. Climate policy challenges and opportunities would also be canvased. We are literally exporting our economy overseas, Campbell said. Mirroring the Paris Agreement principle against backsliding that is, the weakening rather than strengthening of ambition over time subclause 10(5) makes clear that any new nationally determined contribution under the Paris Agreement must represent a progression beyond the nationally determined contribution in place at the time. 36. Subclause 10(6) similarly confirms that any adjusted nationally determined contribution must also represent a more ambitious target than the nationally determined contribution immediately preceding it. PDF SUMMARY: THE INFLATION REDUCTION ACT OF 2022 - Senate Senators Chuck Schumer and Joe Manchin shocked Washington on July 27 by announcing that they had reached a deal on a climate bill. (2) The Corporation may perform its functions with respect to external affairs, including: (a) to give effect to the Climate Change Convention and the Paris Agreement, including by investing in clean energy technologies that could reasonably be expected to control, reduce or prevent anthropogenic emissions of greenhouse gases; and. President Biden will be in attendance along with many other heads of state. This does not preclude the inclusion of other emissions in Australias National Greenhouse Gas Inventory where necessary to comply with relevant rules and requirements for inventories under the Paris Agreement. Clause 15: Climate Change Authority to advise the Minister on greenhouse gas emissions reduction targets to be included in a new or adjusted nationally determined contribution. The intention is that the Bill commences in 2022 and an annual climate change statement would be tabled in late 2022 or early 2023. The bill contains a $10 billion investment tax credit to build clean technology . Subclause 17(2) ensures public consultation is included in the review process so that a range of views and perspectives can be obtained in relation to the operation of the Act. Discovery Company. This Act is the Climate Change (Consequential Amendments) Act 2022. House website. What's In the Climate, Tax and Health Care Bill - The New York Times Subclause 15(2) ensures requests for advice are made at least every 5 years for new NDCs to align with the five-yearly cycle of successive nationally determination contributions under the Paris Agreement. (ba) to give advice under Part4 of the Climate Change Act 2022; and (viii) take account of the matters set out in Article 2 of the Paris Agreement; (4A) A direction under subsection(1) must not be inconsistent with Australias greenhouse gas emissions reduction targets. House website. 48. It also underscores the goal of the Bill to ensure that the government is held accountable for its progress towards meeting the targets and for its climate change policies generally, by way of the process of independent advice from the Climate Change Authority and the annual statement process. Subclause 10(3) ensures that the Bill does not have any unintended consequences for State or Territory legislation, such as the Victorian, Subclause 10(4) prevents subclause (1) from being interpreted to limit the executive power of the Commonwealth to comply with its obligations under the Paris Agreement to submit successive nationally determined contributions or adjust existing nationally determined contributions where those changes are in accordance with Article 4 of the Paris Agreement. Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts. Reuters, the news and media division of Thomson Reuters, is the worlds largest multimedia news provider, reaching billions of people worldwide every day. 39. Foreign-owned farmland in the West increased from around 1.25 million acres in 2010 to nearly three million acres in 2020, according to data from the US Department of Agriculture. Theyve grown so much since theyve been here., This city paid $1.1M to keep faucets running through March as the price of water skyrockets in California, Almarai was transparent about why it wanted the land, according to an article on the purchase from Arab News: The transaction was part of continuous efforts to improve and secure its supply of the highest quality alfalfa hay from outside the Kingdom to support its dairy business.. That feedstock comes from abroad, Woertz told CNN. For the 10 year emissions budget, Australia assesses progress towards its2030target by comparing cumulative netemissions over the period 20212030 with the emissions budget for the period. Under international law, Australia has the obligation under Article 4.2 of the Paris Agreement to . The industry leader for online information for tax, accounting and finance professionals. Note: The expression this Act has an extended meaning (see the Dictionary in section5). What's inside the US's first big climate bill? 46. Date/Details. REUTERS/Nick Oxford. 15. Under international law, Australia has the obligation under Article 4.2 of the Paris Agreement to pursue domestic mitigation measures, with the aim of achieving the objectives of such contributions. The Climate Change (Consequential Amendments) Bill provides that the targets will then be incorporated into a range of Commonwealth legislation to provide particular guidance to that legislation and relevant statutory bodies, such as the Clean Energy Finance Corporation, Australian Renewable Energy Agency and Infrastructure Australia. 2 z(eIG3qnqCOt This clause makes provision for an annual climate change statement to be tabled and delivered in Parliament. It would lower the federal deficit, though modestly. (l) Part4 of the Climate Change Act 2022; or, Export Finance and Insurance Corporation Act 1991. The investments affirm the central role of agricultural producers and forest landowners in our climate solutions by investing in climate-smart agriculture, forest restoration and land conservation. It also underscores the goal of the Bill to ensure that the government is held accountable for its progress towards meeting the targets and for its climate change policies generally, by way of the process of independent advice from the Climate Change Authority and the annual statement process. Inflation Reduction Act: Climate change provisions - CNBC Thats what angers people the most. The nationally determined contribution makes clear that Australia will not carry over any overachievement on its 2020 target or its Kyoto Protocoltargets to meet its Paris Agreement targets. We should be taking care of our own, and we just allow them to come in, purchase property and continue to punch holes in the ground.. Building Energy Efficiency Disclosure Act 2010, (a) to promote the disclosure of information about the energy efficiency of buildings; and.