Month: September 2022

The country is one of the world’s biggest emitters per capita, and the target brings it more in line with other developed countries.

But critics say government plans to reach the target are lacking detail.

Some have been demanding a higher goal as well as a ban on new fossil fuel projects in the country.

But Prime Minister Anthony Albanese had lauded the new law – the Climate Change Bill – as an end to a decade of climate policy inaction. It marks the first significant action against climate change since the party took power in May.

The Labor government’s climate bill cleared the Senate by 37 votes to 30 after accepting minor amendments by independent David Pocock.

Climate change minister, Chris Bowen, told parliament “today is a good day for our parliament and our country, and we’re going to need many more of them”, The Guardian reported.

The former government had angered allies with its short-term emissions reductions target – which was about half what the UN’s Intergovernmental Panel on Climate Change (IPCC) says is needed if the world has any chance of limiting warming to 1.5C.

But there is strong support within the parliament for greater action on climate change.

Many independents campaigned on the issue of climate change, and wanted a 2030 target of at least 50%.

Meanwhile, the Greens party said the passing of the bill was a “small step” in tackling the climate crisis. Most also want a ban on new coal and gas projects – something they say the target cannot be achieved without.

Mark Howden, vice chair of the IPCC, told the BBC in June the new commitment is a big improvement on the previous target.

“[It] would be equivalent to taking all of our cars off the road or taking agriculture out of our economy,” he said.

It could take Australia’s carbon emission from 24 tonnes per person down to around 14 tonnes per person, he said.

While it won’t make Australia a global leader on the climate, “we’re no longer a laggard”, Mr Howden said.

Canada is aiming for a reduction of 40% by 2030 from 2005 levels, while the United States has a target of up to 52%.

In recent years, Australia has suffered severe drought, historic bushfires, successive years of record-breaking floods, and six mass bleaching events on the Great Barrier Reef.

The country is racing towards a future full of similar disasters, the latest UN IPCC report warns.

New research also shows that natural disasters have cost Australian households on average more than A$1,485 (£870; $1,000) in the past year.

A report by the Insurance Council of Australia blames the soaring costs on catastrophic flooding in the east of the country in February and March. The report says costs will continue to rise for years to come because of extreme weather.

The facelift of the road – which hosts the Republic Day celebrations – cost around 6bn rupees ($75m; £65m).

It is part of a larger renovation plan which also includes a new parliament building and residences for the prime minister and vice president.

The total project is expected to cost around 200bn rupees.

Mr Modi’s government floated the renovation plan – known as the Central Vista project – in 2019 to revamp the area in central Delhi which houses major government buildings.

The project drew sharp criticism from opposition leaders, who raised financial and aesthetic concerns.

At the inauguration on Thursday, the name of the road will also be changed from Rajpath (King’s Avenue) to Kartavya Path (Path of Duty).

The avenue connects many important landmarks, including India Gate – a war memorial – and the Rashtrapati Bhavan, the official residence of the president of India.

The government says the revamped avenue has more parking spots and facilities such as additional toilets, food stalls, vending kiosks and designated areas for public performances.

The walkways and canals along the road have been cleaned and refurbished. Local media reports say that security at the avenue has also been beefed up with CCTVs cameras and security guards.

Mr Modi will also unveil a 28ft granite statue of Independence hero Subhas Chandra Bose at India Gate on Thursday.

After the formal ceremony, the stretch will be opened for the public to visit.

Typical household energy bills could be capped at around £2,500 a year, with firms also likely to get some relief.

It is unclear how long the support will last, but the government is expected to borrow at least £100bn to pay for it.

Currently, a typical household’s annual gas and electricity bill is due to rise from £1,971 to £3,549 in October.

Experts and charities have warned that without help on soaring energy price bills, lives will be at risk this winter, as people struggle to afford basic day-to-day living costs.

The increase in consumers’ bills follows sharp rises in wholesale gas largely due to the conflict in Ukraine, which has reduced supplies of Russian gas.

Ahead of the announcement, Ms Truss said she knew families and firms were worried about “how they are going to make ends meet this autumn and winter”.

“Putin’s war in Ukraine and weaponisation of gas supply in Europe is causing global prices to rise – and this has only made clearer that we must boost our long-term energy security and supply.”

She pledged to “tackle the root cause of these problems, so that we are not in this position again”.

To limit the amount customers’ bills go up by, the government is expected to compensate energy firms for the difference between the wholesale price for gas and electricity they pay and the amount they can charge customers.

Customers will not be expected to repay the help, with the huge support package due to be funded by the government borrowing about £100bn.

The final sum will depend on the cost of energy on the international energy markets – which can be extremely volatile as well as whether additional support is offered the most vulnerable households.

But Labour said the government should extend a windfall tax on gas and oil company profits to pay for the package – with leader Sir Keir Starmer warning that working people will be footing the bill for “vast” energy firm profits under her plans.

At PMQs, Sir Keir told Ms Truss energy producers “will make £170bn in excess profits over the next two years”.

“Is she really telling us that she is going to leave this vast excess profits on the table and make working people foot the bill for decades to come?” the Labour leader asked.

However the government is planning a shake-up of the energy market, the BBC has learned. Senior officials have had a series of meetings with power companies to discuss how their contracts might be changed so the price cap avoids funnelling billions of pounds of taxpayers’ money into the profits of suppliers, BBC climate editor Justin Rowlatt said.

Rocketing prices are leaving households facing eyewatering energy bills. Several councils are considering setting up “warm banks” – community spaces for people who cannot afford winter heating – while some teachers are warning of cuts to staff, school trips or courses to cover rising costs.

Every household in the UK is already due to be given a one-off £400 discount on their fuel bills from October – a move announced by Ms Truss’s defeated leadership rival Rishi Sunak while he was chancellor.

And £650 will be paid to more than eight million low-income households who receive benefits or tax credits, alongside further payments to pensioner households and disabled people.

The current price cap – set by Ofgem and which limits the maximum amount domestic customers can be charged for each unit of energy – is due to increase in October. It will mean an average household will pay £3,549 a year for their energy for typical use.

Unlike households, businesses are not protected by an energy price cap. Many are currently facing even sharper rises in energy bills than households, which could lead to firms going under or cutting their wage bills by firing staff.

But firms are also expected to receive some relief under the new plan.

The system to support business could be more complex than that for households and is likely to be reviewed more often. According to reports, it could see the government force energy firms to offer specific reductions on the unit price of the energy used by firms.

Business groups have welcomed the plan, although the British Chambers of Commerce warned “it remains to be seen” whether it goes far enough in providing the support that firms need.

If businesses are included, that could see the overall cost of the government support package rise to well above £100bn.

The cost of UK government borrowing is currently at its highest level for eight years, with the yield on 10-year bonds rising above 3%. The rise in yield indicates investors’ anticipation that the government will have to borrow more in future. It also means any future borrowing will be more expensive.

However, some economists have suggested that plans to cap energy bills could mean that increases in the cost of living will peak earlier and be “significantly lower” than previously forecast.

The cost of living is currently rising at its fastest rate in 40 years, with prices 10.1% higher than the same time last year. The rise is largely driven by the sharp rise in energy prices.

Investment bank Goldman Sachs said that a cap on household energy bills could see inflation peak at 10.8% in October, rather than the 14.8% forecast before. It also sees prices falling more quickly as well, with inflation slowing to 2.4% by December 2023.

The Bank of England also said the plan could slow rising prices.

However, both cautioned that there was uncertainty around what exactly the plan will look like and what would happen once any cap is lifted.

Economists also expect the UK to fall into a recession despite Ms Truss’ energy support plan – albeit a shorter and less severe one.

The Bank of England predicted the UK will enter a recession later this year – with the Bank’s Governor Andrew Bailey saying there is little that can be done to stop that happening.

Meanwhile, Ms Truss is also reportedly set to announce she is scrapping the ban on fracking which was introduced in 2019 over concerns it was causing earth tremors.

The controversial gas extraction technique involves drilling into the earth and directing a high-pressure solution at a rock layer to release the gas inside.

He began the celebrations in the capital, Brasilia, where he took part in a military procession.

He then travelled to Rio de Janeiro, where he flew over tens of thousands of people on Copacabana beach.

Mr Bolsonaro faces a strong challenge in October from leftist ex-president Luiz Inácio Lula da Silva.

He told his supporters in the capital that the polls showing that he was trailing his rival were “a lie”. The latest poll from Datafolha shows Lula with 45% of the votes against Mr Bolsonaro with 32%.

“We know we are facing a battle of good versus evil,” he told the crowd in Brasilia. “The people are on our side – the side of good.”

Ahead of the celebrations marking 200 years since Brazil’s independence from Portugal, the president – and presidential candidate – had called for his fans to come out on to the streets in support of him. Many more thousands gathered in other cities across Brazil.

Supporters started arriving at Copacabana early in the morning. There was an official airshow and a paratroop display and once the official duties were done, Mr Bolsonaro then addressed the crowd once more.

“We needed to wake up from the lethargy, from the lies, the pretty words but also of the cheating of our population,” he said in a direct dig at rival Lula and his Workers’ Party. “I’m not educated, I swear, but I am not a thief.”

The crowd of supporters cheered loudly – a sea of green, yellow and blue. Everyone dressed in the colours of the Brazilian flag, the colours now most associated with Brazil’s far right.

“Bolsonaro is our freedom,” said supporter Tania Moura. “I’m here because for a long time, we haven’t had a democracy.”

On the water, navy ships were in the distance and closer to the shore, dozens of jet skis gathered – many waving the Brazilian flag – in support of the president.

“We are celebrating because we are going to win, democracy is going to win here,” said Henrique Vendrini. “We don’t accept the polls, we believe what we can see here, a lot of people just celebrating Brazil, celebrating democracy, and celebrating the new re-election.”

Lula responded to the personal attacks by Mr Bolsonaro by comparing how he handled Independence Day as leader.

“I never used the national day, the day for the Brazilian people, the most important day because of independence, as a political campaign tool,” he said.

While Bolsonaro supporters gathered on the beach, in the centre of Rio de Janeiro, a smaller crowd came out in protest. A parallel event known as the Cry of the Excluded, designed to give a voice to those often forgotten by the state, this year’s event was particularly pointed.

“We are here to fight for democracy, to get back our colours of our flag,” said Constância Laviola, dressed in a yellow and green T-shirt and hugging a cardboard cut-out of Lula.

“This should be a day of pride, but some of the politicians are trying to kidnap our day, because this is the day of the nation, of the people, and not for a political campaign.”

Brazil’s first round of elections will be held on 2 October. If no candidate wins more than 50% of the vote, a second round will be held at the end of October.