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The federal government has now spent $1.22 billion on its “Direct Action” policy that is supposed to reduce greenhouse gas emissions but will actually allow them to increase. The results of the government's second round of emissions reverse auctions under the Direct Action scheme were released on November 12, revealing that the Clean Energy Regulator had paid $557 million to companies in return for emissions cuts of 45 million tonnes of CO₂. The first auction, in April this year, spent $660 million to buy 47.3 million tonnes.

Environment Victoria released this statement on May 5. * * * Analysis by Environment Victoria has revealed that Australia’s greenhouse gas emissions could rise by up to 20% without breaching the proposed Safeguard Mechanism in the Abbott government’s Emissions Reduction Fund because of the government’s proposed “special treatment” of coal generators in the electricity sector.