Global heating continues to advance faster than ever. In response to this climate emergency, the Australia government plans to assist foreign gas and coal mining operations to ship out their product to the world faster than ever. The "SafeGuard Mechanism" has been bluntly pointed out by the likes of Juice Media, to be a "Carbon Offsets" scam, that allows hugely profitable mining operations to pay for a tiny fraction of their total emissions by using dubious offset schemes, like a drop pf water in the bucket to put out the fires of climate hell. It is slimy PR, worthy of all the best bullshitters from the previous coalition government.
The scheme itself was first proposed by Tony Abbot as a mechanism to safeguard the coal and gas mining industry. The rigged inquiry into the scammy nature of such offset purchases, was run by not-so-independent notables the carbon offsets industry. Nturally they decided against all evidence presented by the enquiry that everything will run cool, fine and normal. Which is the normal state of being for our government riddled with a slick PR mining industry. Given that Tony Abbot couldn't design very much by himself, this entire policy is the brainchild of the Minerals Council of Australia. These people are anti-biosphere, anti-life.
And the level of offsets is required to keep Australian domestic emissions down, without actually keeping them down, so Labor can claim it tried to achieve its 43% reductions by 2030, and the mining industry can keep accelerating our global heating emergency with profits growth.
Of course if the complete "no new mines" policy occurred, it might reduce Australian import capacity and purchasing power a little bit. As the industrial world collapses into global resource shortages, and wars, that will be inescapable. Escape from a portion of catastrophic future global heating still depends on our actions to endure a global fossil fuel cut-down.