Prime Minister Malcolm Turnbull has watered down the requirements for bringing reduction in emissions of greenhouse gases in his primary energy policy due to rising pressure from opposition. The country remains committed to the Paris Accord but the National Energy Guarantee requires that the power industry should lower its emissions by 26 percent by 2030.
Eastern coast of Australia is grappling with the worst drought seen in last 60 years. Prime Minister Turnbull has stated that the administration will soon come up with the law seeking energy reductions soon in future although he gave no timeline for the same but reiterated the commitment to Paris Accord.
Former Prime Minister Tony Abbot who is leading the Conservatives holds the view that reduction in the emissions will spell a grave economic disadvantage for Australia especially as United States has already pulled out from the pact. While the right-wing party stand for perpetuating the coal economy of the country, the centre-right stands divided as few legislators have threatened to vote against the National Energy Guarantee which looks at reducing the energy bills for voters and focus on reliability.
There is an apparent lack of certainty in the carbon emission policy which has brought the investment to a stop. Although Turnbull stands behind the climate change accord but has to fight a tough battle to bring consensus on the same.