Labor reveals climate change policy

LABOR'S CLIMATE CHANGE POLICY

EMISSIONS TRADING SCHEME

* Implement in two phases

* Does not include the electricity sector

* PHASE ONE:

- Will run from 2018 to 2020

- Cap on pollution for high polluting entities

- No price imposed

- Instead, entities that breach the cap will have to provide carbon offsets for that year (ie through carbon farming initiative)

* PHASE TWO:

- Ongoing ETS from 2020

- Pollution capped and cap reduced over a decade

- Design (including access to international markets, domestic offset market) to be finalised in next three years

* Retain Climate Change Authority, committing $17.4m over four years

RENEWABLE ENERGY

* Ensure 50 per cent of nation's energy comes from renewables by 2030

* Expand investment mandate of Clean Energy Finance Corporation

* Allocate $206.6m to ARENA for a solar thermal funding round

ENERGY EFFICIENCY

* Double energy productivity by 2030

* Introduce new emissions standards for motor vehicles

* Promote efficient building design and public transport in cities

CLEANER POWER

* Implement an electricity emissions trading scheme with each generator allocated a baseline; Labor believes the internal market will avoid a significant effect on consumer power prices

* Framework to withdraw old, high-polluting coal-fired power stations and support employees

* Won't use taxpayer dollars to pay high-polluting companies to withdraw

* Conduct an electricity modernisation review - looking at modern trends in electricity and how to transition out of old, polluting coal power

JOBS

* Create a strategic industries taskforce to investigate future of emissions intensive, trade exposed industries

CARBON FARMING AND DEFORESTATION

* Reinstate Labor's carbon farming initiative to encourage the capture of pollution and conversion to usable energy

* Develop a trigger to limit clearing of forests and trees

* Require consistent reporting of land clearing across states

* Reinvigorate COAG's national vegetation management framework which sets targets for tree clearing reductions