Australia's Climate Policy OKed 32% Rise In Heavy Industry Emissions Since 2016 - Reports

Australia's Clean Energy Regulator has allowed heavy industry companies to step up their annual emissions by 32 percent without penalty since the ruling coalition's climate policy was enacted back in 2016, media reported on Thursday, citing a relevant analysis

MOSCOW (UrduPoint News / Sputnik - 16th May, 2019) Australia's Clean Energy Regulator has allowed heavy industry companies to step up their annual emissions by 32 percent without penalty since the ruling coalition's climate policy was enacted back in 2016, media reported on Thursday, citing a relevant analysis.

The country's energy analytics firm RepuTex, however, specified that from 2017 to 2018, even though not all companies chose to emit up to their limit, emissions from the industry grew by 12 percent since 2015, The Guardian reported.

According to RepuTex, the registered spike in emissions threatens to negate $2.

55 billion plan for pollution cuts.

"This is effectively money going down the drain," RepuTex executive director Hugh Grossman said, as quoted by the newspaper.

The news comes as climate change is set to become among major issues that will determine the outcome of Saturday's general election, polls project.

Under the Paris Agreement on climate change, Australia commits itself to decrease carbon emissions by 26-28 percent compared to 2005 by 2030. The country, however, is said to be not on the way to meet this target.