Bill Shorten is vowing his ambitious climate change policy will not kill off heavy industry, but is refusing to detail how Labor will protect the nation’s 250 biggest polluters as they radically cut their carbon emissions.

The Opposition will unveil its long-awaited climate change policy today, with Labor’s platform to include subsidies for households taking up solar batteries and a new electric vehicle target of 50 per cent of new car sales by 2030.

Announcing the party will meet its target to cut Australia’s emissions by 45 per cent of 2005 levels by 2030 by beefing up existing pollution caps — known as the safeguard mechanism — shadow energy minister Mark Butler said Labor would work with industry to determine the details of how this would happen.

He also said that emissions intensive, trade-exposed sectors, such as WA’s LNG and aluminium sectors, would get “tailored treatment” under the new policy, which will require companies to buy carbon credits if they breach their pollution cap.

Labor has been under pressure for months to reveal how it will meet its 45 per cent emissions cut target, with the Coalition suggesting jobs are at risk by the hit to heavy industry.

The new safeguard mechanism will apply to businesses that produce more than 25,000 tonnes of direct CO2 emissions a year — an estimated 0.01 of all businesses — a big reduction on the current level that applies to polluters emitting more than 100,000 tonnes.

“Labor’s approach isn’t about punishing polluters,” Mr Butler said. “It’s about partnering with industry to find real, practical solutions to cut pollution, in a way that protects and grows industry and jobs.

“Labor has listened to industry and stakeholders who desperately want stability after this chaotic government — they don’t want to start from scratch with another mechanism. Industry feedback has been unanimous, businesses want Labor to expand the safeguard mechanism, and we’ve listened.”

Labor will also reveal that, unlike the Coalition, it will not use carryover credits from the Kyoto protocol to meet Australia’s emissions target under the Paris agreement. An incoming Labor government would also scrap the Coalition’s $2.5 billion Direct Action policy, and would establish a $300 million Strategic Industries Reserve Fund to support heavy industries to adapt to the new pollution limits.

New vehicle emissions standards will also be developed, which Labor says will save motorists hundreds of dollars a year in fuel while also reducing pollution. Transport makes up almost 20 per cent of Australia’s emissions.