Jenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Hansard source

Our focus is on meeting our national target. As we talked about in this chamber on many occasions, that is because it is the single most significant thing that Australia can do to catalyse the necessary global action that we need to tackle dangerous climate change. We have been through, this afternoon and this morning, the extensive consultation process that has been undertaken, talking with all of these facilities. We examined, in many instances, what businesses were keen to discuss with the department about their plans and their thinking. There is a wealth of information in the public domain. In fact, I was recently, just now, pointed to Incitec Pivot's Climate change report, which talks about their commitment to reducing emissions and the four projects that they are undertaking in Australia and internationally as they seek to deliver material change in their operational emissions. They said:

These projects collectively give us a pathway above 42% reduction in the medium term with our current asset portfolio.

I mean, business is doing this. And as we've canvassed in a range of different ways over the course of the debate, they are doing so as a consequence of a range of forces, including the investor community.