The City of Newcastle has become the latest council to call on the federal government to make fossil fuel companies contribute to the growing costs of climate disasters. It’s passed a motion urging Canberra to establish a National Climate Compensation Fund, arguing it needs help responding to worsening extreme weather “caused by the burning of fossil fuels”.
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New analysis has found Australia’s biggest industrial emitters received around $22 in Fuel Tax Credit rebates for every dollar they spent complying with the federal government’s emissions reduction policy last year.
Oil and gas giant Woodside has reported $6 billion in revenue over the past three months, an increase of nearly 30 per cent. It has led some media outlets to label the fossil fuel company as “one of Australia’s biggest winners” from war in the Middle East.
Australia’s much-criticised carbon credit scheme has been dealt yet another blow, after the New South Wales Government announced its decision to bar coal and gas companies from buying offsets generated by the Great Koala National Park.
