Rein in fossil fuel tax concessions, Labor MP says after BHP revelations
Summary
A Labor MP, Jerome Laxale, has called for mining companies like BHP to face tighter rules on fuel tax rebates and to make faster progress on cutting pollution. Recent reports show BHP delayed projects that would reduce emissions and received large fuel tax credits while paying little for excess emissions under Australia’s climate policy.Key Facts
- BHP delayed major projects aimed at reducing carbon emissions and slowing their shift to electric trucks and trains.
- BHP paid less than $9 million last year for exceeding emission limits under the government’s safeguard mechanism.
- The company received about $622 million in diesel fuel tax credits, including $379 million for iron ore mines in Western Australia.
- Labor MP Jerome Laxale supports capping diesel fuel tax credits to encourage miners to electrify their operations.
- Over 270 local Labor branches back a policy to limit the tax credits to $50 million per company.
- The mining company Fortescue, owned by Andrew Forrest, agrees with reforming the diesel rebate.
- The government’s climate minister recently said no immediate changes to the fuel credit scheme are planned.
- Some politicians say current policies allow companies to exploit rules, slowing Australia’s climate progress.
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