Adam Bandt.
New Greens bill would ‘destroy Australia’s reputation’
TAXPAYERS would have to foot the cost for a massive legal bill under a Greens proposal to revoke existing approvals for coal and gas projects, in a repeat of the failed live export ban, Resources Minister Keith Pitt says.
He said it would “destroy Australia’s reputation” and chase off investment for fear their approvals would be “completely worthless”.
Greens leader Adam Bandt yesterday moved a bill for a moratorium on new coal, gas and oil projects, but in the detail of the proposed law was the power to revoke environmental approvals for existing projects, if they had not started operations yet.
It comes as the Greens argue there will be a hung parliament after the election and are preemptively pushing for a powersharing deal with Labor, which opposition leader Anthony Albanese has ruled out.
Opposition climate change spokesman Chris Bowen said Labor would oppose the bill.
Mr Pitt said revoking existing approvals without reason would “open the country to law suits that would be successful”.
“It would destroy Australia’s reputation. Why would anyone invest here if they knew that later they could rescind their approvals and make their investment completely worthless.”
He said Labor cost taxpayers from its 2011 decision to ban live exports, which was later found to be invalid by the High Court.
Mr Bandt said the proposed laws did not refer to projects that had already started and rejected suggestions there could be financial risk to taxpayers if approvals were overturned.
“We’re talking about projects that haven’t yet commenced operation in an environment where corporations are saying that they still want to invest, not withstanding that Australia has signed up to an international agreement that says these kinds of projects shouldn’t go ahead,” he said.
“The risk doesn’t come from the parliament passing legislation in line with the Paris Agreement, the only risk that comes is if corporations decide to ignore what Australia has signed up to.”
He said it would “destroy Australia’s reputation” and chase off investment for fear their approvals would be “completely worthless”.
Greens leader Adam Bandt yesterday moved a bill for a moratorium on new coal, gas and oil projects, but in the detail of the proposed law was the power to revoke environmental approvals for existing projects, if they had not started operations yet.
It comes as the Greens argue there will be a hung parliament after the election and are preemptively pushing for a powersharing deal with Labor, which opposition leader Anthony Albanese has ruled out.
Opposition climate change spokesman Chris Bowen said Labor would oppose the bill.
Mr Pitt said revoking existing approvals without reason would “open the country to law suits that would be successful”.
“It would destroy Australia’s reputation. Why would anyone invest here if they knew that later they could rescind their approvals and make their investment completely worthless.”
He said Labor cost taxpayers from its 2011 decision to ban live exports, which was later found to be invalid by the High Court.
Mr Bandt said the proposed laws did not refer to projects that had already started and rejected suggestions there could be financial risk to taxpayers if approvals were overturned.
“We’re talking about projects that haven’t yet commenced operation in an environment where corporations are saying that they still want to invest, not withstanding that Australia has signed up to an international agreement that says these kinds of projects shouldn’t go ahead,” he said.
“The risk doesn’t come from the parliament passing legislation in line with the Paris Agreement, the only risk that comes is if corporations decide to ignore what Australia has signed up to.”