MELBOURNE, (Reuters) – Australia’s resource minister proposed creating a A$250 billion ($180 Billion) government-run lending facility to support the country’s coal sector in exchange for supporting a zero-carbon emission target for 2050.

According to Keith Pitt (a Resources Minister) of the National Party’s junior coalition partner, the Australian Financial Review was told that his idea for the government was to become the “lender last resort” in the mining sector, since banks and insurers have been increasingly reluctant to underwrite and fund the sector.

Scott Morrison, the Prime Minister, has felt increasing pressure to commit to a zero emission target but was thwarted by opposition from its junior partner. The first indication of the cost that such support could come at is Pitt’s suggestion.

Morrison indicated that he would inform his government about its position regarding cutting carbon emissions on Thursday, although it is unclear if he will attend this year’s global climate conference. Participants were asked to set ambitious emission reduction targets.

Barnaby Joyce of Nationals said that the proposal for a loan facility was not part of their policy. The National Party represents rural Australians and is concerned about jobs in these regions.

“No matter what happens, we need to find a way to fund the resources sector and provide insurance,” Pitt told the Australian Financial Review.

According to Thursday’s AFR report, Pitt said that the resources and agriculture sectors should not be sacrificed in order for net zero.

“If we want to look after 300,000 jobs, provide power to 70% of homes, the Australian government will have to become the lender of last resort,” he said, according to the paper.

According to May submissions to the parliamentary inquiry, Australia’s mining industry faces a decline in access to finance, insurance and financing. This is raising costs and jeopardizing the industry’s longevity.

Pitt claimed last month that Australia will continue to rely on coal to fuel its economy, despite the growth of global demand. This was after an UN envoy urged the country to abandon fossil fuels.

($1 = 1.3732 Australian dollars)