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senate vote 2014-10-30#7

Edited by mackay

on 2014-11-05 14:16:36

Title

  • Bills — Carbon Farming Initiative Amendment Bill 2014; Second Reading
  • Carbon Farming Initiative Amendment Bill 2014 - Second Reading - Agree with the bill's main idea

Description

  • <p class="motion-notice motion-notice-notext">No motion text available</p>
  • The majority agreed with the bill's main idea (in parliamentary jargon, they voted in favour of giving the bill a [second reading](http://www.peo.gov.au/learning/fact-sheets/making-a-law.html)). This means that the senators can now discuss the bill in more detail.
  • ###Main idea of the bill
  • The bill creates an Emissions Reduction Fund so the Government can buy domestic [greenhouse gas](http://en.wikipedia.org/wiki/Greenhouse_gas) emissions reductions and [offsets](http://en.wikipedia.org/wiki/Carbon_offset) by [reverse auction](http://en.wikipedia.org/wiki/Reverse_auction). It also makes some changes to the [Carbon Farming Initiative](http://www.daff.gov.au/climatechange/cfi), like introducing a 25-year-long option for [carbon sequestration](http://en.wikipedia.org/wiki/Carbon_sequestration) projects (right now all projects have to run for 100 years).
  • ###Carbon Farming Initiative
  • The Carbon Farming Initiative lets farmers and land managers earn [carbon credits](http://www.cleanenergyregulator.gov.au/ANREU/Concise-description-of-units/Australian-carbon-credit-units/Pages/default.aspx) by reducing greenhouse gas emissions and [storing carbon](http://en.wikipedia.org/wiki/Carbon_sequestration) in vegetation and soils by changing their agricultural and land management practices.
  • ###Background to the bill
  • The Emissions Reduction Fund is a key part of the Coalition Government's [Direct Action policy](http://www.abc.net.au/news/2013-12-20/coalition-climate-change-direct-action-policy-explained/5067188), which was an [election commitment](https://www.liberal.org.au/our-plan/environment). It will replace the [carbon price](http://en.wikipedia.org/wiki/Carbon_pricing_in_Australia) as the main part of the Australian Government's effort to reduce [greenhouse gas](http://en.wikipedia.org/wiki/Greenhouse_gas) emissions.
  • Australia has agreed with the [Kyoto Protocol](http://en.wikipedia.org/wiki/Kyoto_Protocol) to the [United Nations Framework Convention on Climate Change](http://en.wikipedia.org/wiki/United_Nations_Framework_Convention_on_Climate_Change), which means that Australia has agreed to reduce emissions by five per cent of 2000 levels by 2020.
  • Read more about the changes made by the bill in the [bills digest](http://www.aph.gov.au/Parliamentary_Business/Bills_Legislation/bd/bd1415a/15bd023).