The Climate Change Bill 2016 (Vic) has been read for a second time in the Legislative Assembly and will repeal the current Climate Change Act 2010 (Vic) and re-enact it with substantial amendments under the Climate Change Bill 2016 (Vic). The bill will offer a risk-management framework for state-management of climate change and create climate resilience within communities and the economy. This includes support for low carbon industry in support of state-based emissions reduction target. The Labor Government has stated that the current national emissions targets are insufficient to meet Australia’s obligations under the Paris Agreement. The state is introducing this legislation to work proactively in support of the Paris Agreement’s maximum two degree of warming objective. The bill introduced a net zero greenhouse gas emissions target by 2050. This will be achieved by smaller five year emissions targets from 2020 onwards that will guide in the effective yet responsible phasing out of greenhouse gas processes. Further, and reflective of one of the key design features of the Paris Agreement, each interim target must be cumulatively more ambitious than the preceding target, and contribute to the overall 2050 target.
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