The Greens have unveiled their radical plan to ban coal despite it bringing Australia more than $66billion every year.
The party on Thursday released a new climate plan, which sets 2030 as the target year for the nation to be running on 100 per cent renewable energy.
The policy – which comes with a call to arms from Swedish school student Greta Thunberg – shows how the Greens would push a Labor government if elected in May.
Leader Richard Di Natale on Thursday unveiled the Greens’ radical plan to stop the coal industry despite it bringing Australia more than $25billion every year
Greens leader Richard Di Natale described coal as ‘the new asbestos’, saying the party wants to shut down every coal power plant in New South Wales, The Daily Telegraph reported.
‘We once used asbestos in our buildings because we thought it was safe. But we now know better, so we have banned it. Now it is coal’s turn,’ the Greens’ policy stated.
The party wants to put an end to thermal coal burning by setting a yearly limit on coal exports from 2020 and reducing it every year until it hits zero in 2030.
At the same time, the party is pushing for the nation to be running on 100 per cent renewable energy by the time the coal industry ceases trading.
The plan would include a $65billion carbon tax, and an immediate ban on new coal mines, fracking and conventional onshore and offshore gas and oilfields.
Industry experts said the economy will suffer under the plan.
Coal was the highest earning export commodity in Australia last year, accounting for $66million in revenue, according to Australian Bureau of Statistics figures.
Last financial year, coals exports brought the NSW economy about $17billion, with thermal coal exports reaching 164.6million tonnes.
NSW Mining CEO Stephen Galilee told Daily Mail Australia the overall economic cost of banning coal would send the state into a deep economic recession.
The minor party on Thursday released a new climate policy, which sets to ban coal burning and move toward becoming a nation that uses 100 per cent renewable energy
Greens leader Richard Di Natale (pictured) has denied his party’s plan to shut down all coal-fired power stations and phase out thermal coal exports will cost Australians jobs
‘The Greens policy would cost NSW its most valuable export industry and over $17billion in export income, as well as over $2billion a year in mining royalties, which help pay for schools and hospitals.
‘Over 20,000 NSW coal miners would lose their jobs, devastating mining families and communities, and over 130,000 more jobs across NSW would also be potentially affected,’ Mr Galilee said.
The CEO said more than 7,000 businesses currently part of the mining supply chain would also be hit, threatening even more jobs.
‘Electricity supply to families and businesses across NSW would also be at risk of price rises and blackouts which would affect a range of energy-intensive industries including manufacturing, transport and construction,’ he said.
Mr Di Natale has denied his party’s plan to shut down all coal-fired power stations and phase out thermal coal exports will cost Australians jobs.
The plan – which comes with a call to arms from Swedish school student Greta Thunberg (pictured) – shows how the Greens would push a Labor government if elected in May
As part of the Greens’ plan, the party wants the nation to invest in renewable energy sources
The Greens want a $1billion transition plan for workers affected by banning coal, which Mr Di Natale believes will create more than 170,000 new jobs.
‘We will lose no jobs because under our plan we will have a national authority, a publicly-owned authority, with express intent to manage this transition,’ he told ABC Radio National on Thursday.
‘The reality is this is happening already, people are going to lose their jobs because the economics are making it so.’
Mr Di Natale said unlike the major parties, the Greens planned to create a jobs boom in the renewable energy export industry.
Senator Di Natale said the mining and burning of coal remained the single biggest cause of climate change in Australia and around the world
As part of the plan, the Greens want the nation to stop using gas – despite experts saying the energy source is an essential part of future energy sources.
Phasing out petrol cars and moving to electric vehicles was another key objective mentioned in the Greens idealistic plan.
Luxury fossil fuel cars would be hit with a 17 per cent tax to help pay for scrapping registration fees, import tariffs, GST and stamp duty on electric vehicles.
The Greens have also proposed establishing a new public energy retailer and re-regulating electricity prices to address price gouging following the coal ban.
Mr Di Natale said the mining and burning of coal remained the single biggest cause of climate change in Australia and around the world.
‘You need the Greens in the Senate to push Labor to make sure we do what needs to be done,’ he said.
Daily Mail Australia has contacted Mr Di Natale’s office for comment.