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Speaker 1: Good morning everybody, and welcome to the Daily OS. It

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Speaker 1: is Monday, the sixteenth of May. It is here, guys,

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Speaker 1: the final countdown to the twenty twenty two federal election.

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Speaker 1: We all have to vote on Saturday, but there are

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Speaker 1: actually about three million Australians who have already voted. You

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Speaker 1: can do that at pre pole stations. This week on

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Speaker 1: the Daily ODS, things are going to look a little

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Speaker 1: bit different. On the podcast, we're going to be taking

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Speaker 1: you through the five big policy areas and giving you

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Speaker 1: a bit of a cheat sheet on where the parties

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Speaker 1: stand on all of that. And to do that, we're

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Speaker 1: going to bring in Tom Crowley every day to really

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Speaker 1: tell you what you need to know. Zara, Happy election week.

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Speaker 1: What is making you use this morning?

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Speaker 2: So yesterday at a campaign launch, the Coalition announced a

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Speaker 2: new housing policy that'll see people able to access up

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Speaker 2: to fifty thousand dollars of their superannuation to then put

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Speaker 2: towards the purchase of their first home. Prime Minister Scott

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Speaker 2: Morrison said the plan utilizes money that's currently locked away

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Speaker 2: to transfer form a family's life. Former Labour PM Paul

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Speaker 2: Keating saw it a bit differently and called the plan

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Speaker 2: a frontal assault on the superannuation system.

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Speaker 1: Some really sad news over the weekend. Former Australian cricket

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Speaker 1: star Andrew Simons has died in a car crash in

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Speaker 1: North Queensland over the weekend. Police have said the cause

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Speaker 1: of the crash remains unknown. Simon's played twenty six tests

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Speaker 1: for Australia and was one of the biggest characters in

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Speaker 1: One Day Cricket.

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Speaker 2: Ten people were killed in Buffalo, New York after a

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Speaker 2: shooter opened fire in a supermarket over the weekend. The

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Speaker 2: local county sheriff John Garcia called the shooting a straight

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Speaker 2: up racially motivated hate crime from somebody outside of our community.

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Speaker 2: The eighteen year old man has pleaded not guilty.

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Speaker 1: And after those stories, we really do need some good

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Speaker 1: news today for our Monday morning. So here it is.

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Speaker 1: Ukraine has won the twenty twenty two Eurovision contest, with

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Speaker 1: Kalush Orchestra finishing one hundred and ninety three points ahead

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Speaker 1: of second place. Ukrainian pressent Vladimir Zelenski said next year

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Speaker 1: Ukraine will host Eurovision.

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Speaker 2: So every day this week we're going to be taking

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Speaker 2: a look at one key policy area and getting a

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Speaker 2: sense of where the parties stand on the big issues.

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Speaker 2: These deep dives are presented in partnership with the Judith

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Speaker 2: Nielsen Institute for Journalism and Ideas, and we'll be joined

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Speaker 2: every day this week by TDA journalist Tom Crowley to

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Speaker 2: take us through what the big issues are. And Tom,

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Speaker 2: welcome to today's episode. What are we tackling?

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Speaker 3: Thank you? Full week of me Zara. How exciting for you.

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Speaker 2: I can't wait.

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Speaker 3: Climate change. We're going to start with Sarah. It's, I guess,

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Speaker 3: kind of the biggest issue. It's what our readers tell

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Speaker 3: us they care the most about in this election, so

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Speaker 3: we thought it would be a perfect place to start

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Speaker 3: this series. Brilliant.

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Speaker 2: Okay, So to me, at least the natural starting point

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Speaker 2: is what are the emissions reduction targets that both of

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Speaker 2: the major parties are setting out for this election?

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Speaker 3: Yeah, that's right, So I'll start with where they both

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Speaker 3: agree at least in principle. Nice, I know, I know,

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Speaker 3: don't get used to it. It's net zero by twenty fifty.

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Speaker 3: That's the kind of catphrase that we've heard. And again,

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Speaker 3: just to remind people kind of what net zero is,

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Speaker 3: sort of like almost zero but not quite basically net

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Speaker 3: zero is a version of the world where anything left

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Speaker 3: that you do emit into the atmosphere, you're taking an

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Speaker 3: equivalent amount out through some sort of carbon capture, even trees,

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Speaker 3: for example. So that's the kind of that's where we're headed.

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Speaker 3: Both parties have signed up to that being by twenty fifty.

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Speaker 3: It's really that the difference is all about kind of

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Speaker 3: how quickly you get there, And in particular, the year

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Speaker 3: that's of focus for us at the moment is twenty thirty.

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Speaker 3: What's the target, the kind of interim target on the

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Speaker 3: way to twenty fifty for twenty thirty for labor that

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Speaker 3: target is forty three percent emissions reduction by twenty thirty.

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Speaker 3: For the coalition it's twenty six to twenty eight percent.

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Speaker 3: So that's I guess kind of the big difference from

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Speaker 3: which everything else flows is that kind of the forty

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Speaker 3: three versus the twenty six twenty eight. Now, those are

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Speaker 3: just kind of random numbers. How do you get any

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Speaker 3: kind of context for that? The most useful piece of context,

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Speaker 3: I think is what the IPCC, the Intergovernmental Panel on

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Speaker 3: Climate Change, the kind of world's leading scientific authority on

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Speaker 3: climate change, says that the whole world needs to reduce

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Speaker 3: emissions by at least forty three percent by twenty thirty

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Speaker 3: to be able to keep warming to one point five degrees,

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Speaker 3: which is the kind of key tipping point that we

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Speaker 3: hear about for staving off the most catastrophic effects of

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Speaker 3: climate change. So that's kind of if you like the baseline,

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Speaker 3: the benchmark. The IPCC is saying that the whole world's

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Speaker 3: got to hit forty three percent by twenty thirty. There

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Speaker 3: are someone will come to the Greens in a moment

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Speaker 3: who suggests that Australia should be kind of doing more

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Speaker 3: than more than the global average. Labour's position is on

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Speaker 3: that kind of global average of a forty three percent

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Speaker 3: reduction by twenty thirty. The Coalitions is lower than that.

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Speaker 2: Okay, and Tom, I know this isn't a simple answer,

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Speaker 2: but how are both of the parties suggesting they'll reach

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Speaker 2: those targets.

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Speaker 3: Maybe I'll start with the Coalition, which is kind of

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Speaker 3: the simplest answer, because I suppose they've been in government

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Speaker 3: and their view is that they've already got the policies

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Speaker 3: in place to get us there. Scott Morrison, I think

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Speaker 3: the phrase that he uses is Australia is on track

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Speaker 3: to meet and beat its targets. The main kind of

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Speaker 3: mechanisms that there are kind of two main mechanisms that

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Speaker 3: they've got in place for that. One of them is

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Speaker 3: really all about the government investing in new technologies. I

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Speaker 3: guess this idea that kind of renewable technologies or energy

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Speaker 3: storage technologies might need a little bit of help to

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Speaker 3: get off the ground and become viable in the early stages.

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Speaker 3: The government is investing money specifically in projects about hydrogen

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Speaker 3: and carbon capture and storage. Can you quickly explain what

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Speaker 3: that means?

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Speaker 2: Because I feel like that term is thrown around a

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Speaker 2: lot and our listeners might not be aware of what

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Speaker 2: it actually is.

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Speaker 3: Yes, I was hoping you wouldn't ask. So it's essentially like,

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Speaker 3: you know, I guess that carbon capture and storage, if

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Speaker 3: you actually think about those words, I think it's basically

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Speaker 3: just what that sounds like. Is you know, ways to

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Speaker 3: kind of take carbon emissions out of the atmosphere and

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Speaker 3: store them, or I guess ways to kind of, you know,

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Speaker 3: go through a normal production process that would emit, but

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Speaker 3: to hold on to those emissions and not let them

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Speaker 3: get into the atmosphere. That is I'm not a scientist,

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Speaker 3: and any scientist is listening will probably be able to

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Speaker 3: pull me up on where I've got that slightly wrong.

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Speaker 3: But I think that's the general idea. And also projects

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Speaker 3: based on hydrogen. They're the two main things that that's

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Speaker 3: kind of investing in and trying to the idea is

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Speaker 3: you know that. I think the coalition says technology not

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Speaker 3: taxes is kind of the way that they would summarize

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Speaker 3: that approach. There's that, and then there's something called the

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Speaker 3: Emissions Reduction Fund. Yep.

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Speaker 2: So take us through what that is, because I've heard

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Speaker 2: it a lot throughout the election campaign and indeed before

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Speaker 2: the election campaign. So what does it actually mean?

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Speaker 3: Yeah, so these things all have very sort of long

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Speaker 3: and not very useful names. The Emissions Reduction Fund the

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Speaker 3: simplest way to put it. It's a scheme to pay

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Speaker 3: people and businesses to pollute less. I think that is

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Speaker 3: really the simplest way of putting it. So it's a

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Speaker 3: credit based system. They call them carbon credit. And if

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Speaker 3: you have a project where you've induced emissions in your

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Speaker 3: business or as a person, you've kind of maybe you

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Speaker 3: planted a bunch of trees or something, you can get

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Speaker 3: a credit for that. And you can kind of buy

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Speaker 3: and sell those credits. Those credits have a value, that

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Speaker 3: kind of buying and selling mechanism. It's just sort of

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Speaker 3: a way to encourage people to pollute less. That's kind

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Speaker 3: of the carrot dimension to the emissions Reduction Fund. There's, also,

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Speaker 3: if you like, a stick dimension to the emissions reduction Fund,

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Speaker 3: which is called the safeguard mechanism, and that's something that

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Speaker 3: applies to just really really big polluters and it basically

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Speaker 3: says that they're not allowed to pollute above a baseline,

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Speaker 3: and the baseline is sort of basically just their normal

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Speaker 3: level of pollution. It's just a little sort of I mean,

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Speaker 3: I guess the word safeguard suggests it's just sort of

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Speaker 3: a little bit of a backup. And the idea is

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Speaker 3: if they have a really bad year of polluting more

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Speaker 3: than they normally would, that they're forced to buy some

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Speaker 3: of these carbon credits. So that's kind of, if you like,

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Speaker 3: we can talk about the carrot and stick approach. That's

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Speaker 3: the carrot of the emissions reduction and there's a little

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Speaker 3: bit of a stick in there as well, which is

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Speaker 3: something called the safeguard mechanism. Gets way too technical to

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Speaker 3: get into all of the details, but basically that's something

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Speaker 3: that just kind of applies to the very biggest polluters,

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Speaker 3: calculates a baseline for them of kind of you know,

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Speaker 3: here's the maximum number of emissions that you can let

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Speaker 3: out in any particular year, and if you go over,

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Speaker 3: that will require you to buy some of these carbon credits.

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Speaker 3: So that's basically how that scheme works. So those two things,

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Speaker 3: this sort of technology investment approach and this kind of

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Speaker 3: carbon credit scheme thing, they're the two big mechanisms that

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Speaker 3: the coalition already has, and they say that it has

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Speaker 3: us on track to hit that twenty six to twenty

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Speaker 3: eight percent emissions reduction by twenty thirty.

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Speaker 2: Okay, excellent. And if we move to Labor the opposition,

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Speaker 2: what are they suggesting is the way to reach their

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Speaker 2: emissions reduction targets?

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Speaker 3: Sure, so obviously Labour's target is higher, so I guess

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Speaker 3: in that sense they need to be a little bit

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Speaker 3: more ambitious. One of the kind of big spending items

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Speaker 3: is a twenty billion dollar project to upgrade the national

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Speaker 3: electricity market basically to kind of make it fit for

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Speaker 3: purpose for renewables and to be able to emit less.

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Speaker 3: So that's kind of one of the big centerpieces of

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Speaker 3: that project. Another one of the big centerpieces is a

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Speaker 3: discount on electric vehicles, and so it's sort of a

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Speaker 3: tax discount. When electric cars get imported, they have to

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Speaker 3: pay tax and there's sort of like a luxury car

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Speaker 3: tax that some of them pay, So it's a discount

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Speaker 3: on that which essentially makes the electric vehicles cheaper. And

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Speaker 3: that's kind of accompanied by some measures to install charging

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Speaker 3: stations and that kind of thing to encourage electric vehicle

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Speaker 3: take up. Labour's also funding a number of solar batteries

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Speaker 3: and community solar storage units, essentially again as part of

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Speaker 3: trying to encourage community takeup of renewables. They're kind of

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Speaker 3: big three. And then I guess the final thing that's

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Speaker 3: worth mentioning is labor is retaining that safeguard mechanism that

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Speaker 3: I was talking about. But Labour's policy, I'm consistent with

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Speaker 3: what the Business Council of Australia has suggested, is to

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Speaker 3: kind of bring down those baselines over time and to

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Speaker 3: use that as a way to make sure that you're

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Speaker 3: forcing these big polluters to slowly reduce their emissions. So

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Speaker 3: I mentioned that baseline for those big polluters. If they

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Speaker 3: go above the baseline, they've got to buy carbon credits.

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Speaker 3: In other words, they basically sort of pay like a

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Speaker 3: financial penalty if you like. Labour's idea is that over

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Speaker 3: time you ratchet those baselines down and down and use

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Speaker 3: that as a mechanism to make big polluters pollute less.

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Speaker 2: Okay, cool, A very succinct answer there, Tom, That is excellent.

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Speaker 2: We're going to head quickly to the minor parties and

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Speaker 2: independence because, as we've made clear over this entire election campaign,

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Speaker 2: we do operate with a two party system, but we

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Speaker 2: are seeing the rise in minor parties and independence. So

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Speaker 2: talk me through what the Greens are suggesting. And you

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Speaker 2: actually spoke to Adam Bant about this.

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Speaker 3: I did speak to Adam Bandt about this. So the Greens,

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Speaker 3: I guess, consistent with the very strong stance on climate

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Speaker 3: action that they've taken over a period of time, their

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Speaker 3: targets are more ambitious than either of the major parties,

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Speaker 3: and so they want by twenty thirty to have a

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Speaker 3: seventy percent reduction and to be essentially out of coal

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Speaker 3: and gas altogether by twenty thirty and to reach net

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Speaker 3: zero emissions by twenty thirty five. There's a number of

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Speaker 3: I think kind of key to the Greens policy is

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Speaker 3: basically a big government investment to lead the way into

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Speaker 3: renewables and to basically force us or take us out

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Speaker 3: of coal and gas altogether. For the government to really

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Speaker 3: lead the way with money, and we're building the sort

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Speaker 3: of renewable projects that need to be built, but also

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Speaker 3: by sort of stepping into guarantee jobs will be provided

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Speaker 3: to people in coal communities and that sort of thing

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Speaker 3: who lose jobs. So it's very much, I guess, a

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Speaker 3: more actively managed transition for the government than what the

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Speaker 3: major parties are suggesting. I guess is he here In

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Speaker 3: what I'm talking about the major parties there a lot

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Speaker 3: of it is sort of setting up these mechanisms to

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Speaker 3: either gently or less gently encourage businesses to make the change.

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Speaker 3: I think with the Greens it's more of an active

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Speaker 3: kind of step. So that's sort of the main point

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Speaker 3: of difference there. And certainly if the Greens end up

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Speaker 3: in the balance of power with labor and expect them

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Speaker 3: to be sort of pulling labor in the direction of

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Speaker 3: some of that stronger action. There are also a number

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Speaker 3: of kind of independents. This time around who are running

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Speaker 3: kind of very prominent campaigns, specifically on the issue of

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Speaker 3: climate change and also in favor of stronger action. They

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Speaker 3: tend to be running in kind of seats that are

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Speaker 3: traditionally helped by the liberal parties, So in much the

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Speaker 3: same way that you can expect the Greens to be

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Speaker 3: pulling Labor along, if some of these independents end up

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Speaker 3: in a balance of power situation, you can kind of

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Speaker 3: expect them to be pulling the coalition along as well.

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Speaker 3: So there are a few kind of players on the

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Speaker 3: sidelines calling for strong action on climate change who could

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Speaker 3: end up playing a significant role.

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Speaker 2: Tom, thank you so much for running through what has

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Speaker 2: led to many prime ministers losing their jobs and has

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Speaker 2: caused many an argument within the major parties. So it's

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Speaker 2: certainly something that is going to be very prominent this

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Speaker 2: election and well after the election too. We'll be back

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Speaker 2: tomorrow with another episode of this Jay and I Deep Dive,

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Speaker 2: but until then, have a brilliant Monday.