We have seen from examples around the world what can happen when a carbon price collapses: the market signal necessary to drive investment in clean technologies ceases to exist, pollution continues, and catastrophic climate change is further locked in. This bill, together with the price control measures that were put in place through the emissions trading scheme (ETS) reform bill last year, will manage the risk of that happening here and help to avoid emission prices falling for the wrong reasons and undermining much-needed low-emissions investments.