The proposed block on any new money for existing coal and gas projects shapes as a major sticking point in the Greens’ negotiations with Labor over the emissions legislation,which is due to be introduced on Wednesday.
As the Coalition is promising to vote against the 43 per cent emissions reduction target,Labor needs the support of all 12 Greens in the Senate and one more vote,which is most likely to come ACT independent David Pocock,to enshrine the target in law.
Bandt said the Greens could attempt to amend Labor’s first budget,which is due to be handed down in October,to stop money flowing to resource projects and to exploration.
“The Greens are exploring all measures to stop public money going to coal and gas,including reserving the right to amend Labor’s first budget to remove any funding for fossil fuels,” he said.
“Europe is on fire and theState of the Environment report shows the climate crisis is fast-tracking environmental collapse,but the prime minister backs more coal and gas and repeats Scott Morrison’s ‘clean coal’ spin.