Australia's new prime minister will not revive plans to embed carbon emissions targets in law, a thorny issue that triggered the ousting of his predecessor in a party coup.
Scott Morrison won a Liberal Party ballot to replace Malcolm Turnbull -- a moderate who struggled to get his conservative colleagues to support the National Energy Guarantee (NEG) -- as leader in late August.
Australia is considered one of the world's worst per capita greenhouse gas polluters, and is a heavy user of coal-fired power.
Morrison, who is to the right of Turnbull, said the proposal to help the government meet its Paris Agreement pledge was "dead" and his government would focus instead on lowering soaring electricity prices.
"The NEG is dead, long live reliability guarantee, long live default prices, long live backing new power generation," he told the Weekend Australian on Saturday.
"Next week we will be putting to rest the issue of the legislation... it won't be proceeding."
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
