The Government has billed it as an historic turning point - but climate activists don't believe the hype.
The Emissions Reduction Plan has been unveiled, setting out how Ministers intend to spend almost 3 billion dollars over the next four years to cut pollution.
The money comes out of a $4.5 billion kitty funded by the Emissions Trading Scheme.
Environmentalists says the plan is mostly fluff and spin - light on details - and far too light on farmers.
Here's deputy political editor Craig McCulloch.