The Australian Green Party’s recent 12% showing in federal elections put it in a strong balance-of-power bargaining position. Business Green reports that the Australian Greens have agreed to support a Labor-led government in exchange for increased attention to Green issues such as carbon pricing:
…The only party that can declare any kind of election victory is the Greens, who enjoyed a larger swing than in any other country, saw their share of the vote reach 11.7 per cent, obtained their first seat in the lower house, and picked up nine seats in the 76 seat Senate. Taken as a whole, the support for Labor, the Greens and those independents that made it clear they favoured action on climate change means there is a clear electoral mandate for rapid action, regardless of Liberal complaints that Labor does not have a right to govern.
The net result is that the chances of Australia introducing a wide-ranging climate change bill, built around a meaningful price on carbon and a huge increase in renewable energy investment, have increased significantly. Those energy firms and green businesses who last week called for urgent action to tackle carbon emissions may just get what they wished for.