The left-wing Australian Greens say they will soften their demands for a proposed fossil fuel ban to shake hands with the centre-left Labor government to pass its carbon credit reforms in an effort to tackle climate change.
The so-called “Safeguard Mechanism Reforms (Crediting) Amendment bill,” which the Labor government is looking to pass through the Senate, requires Australia’s largest greenhouse gas emitters to keep their net emissions below an emissions limit. Businesses can “offset”  emissions deemed in excess of government regulations by purchasing carbon credits.
After the centre-right Coalition said they would oppose the bill, Labor has been at a crossroad with the Greens, who attempted to block the bill unless Labor promised to stop all new coal or gas projects, regardless of the impact on the economy and the energy needs of Australians….