Australian Senate Passes New Renewable Energy Laws

The Australian Senate reached an agreement today regarding renewable energies and target goals for reducing carbon emissions. The political parties came to a decision which will see energy companies drawing 20% of their energy from renewable sources, such as solar and wind power, by 2020.

The law, passed today, sets a goal four times greater than a previous target strategy outlined in 2001. The new aim keeps Australia competitive with target goals set forth by the European Union in 2007, aiming to have all companies rely partially on renewables to generate electricity. 

Currently, Australia uses 8% renewable energy for its electricity needs, but some politicians have stated that the new target will not be enough to curb the carbon emissions emitted by the booming Australian coal industry.

“The only way we’re going to be able to turn around the growth in our carbon pollution … is to put a firm legislated limit on the amount of carbon that we produce and make those who create the pollution pay for it,” said climate change minister, Penny Wong in an address to the Senate.

Earlier last week, the Senate had rejected a bill proposing an aggressive taxation of industries’ carbon emissions beginning in 2011. The bill would have cut Australia’s carbon footprint by 25% below what it was in 2000. The bill was rejected, and is schedule to be re-proposed with amendments later this year.

Thanks to guardian.co.uk for the above quote, for more information on this story please view their website.