Greens Adam Bandt gives Anthony Albanese an offer over safeguard legislation

The government needs the support of either the Greens or the Coalition to pass its redesign of the so-called safeguard mechanism, which would issue major polluters taxpayer-funded carbon "safeguard" credits in an effort to cut emissions about 5 per cent each year through to 2030.

The Tony Abbott-era scheme, set up by the coalition in 2016 to cap greenhouse gas emissions, aims to maintain economic growth while helping Australia meet its 2030 and 2050 emissions targets.

Greens Leader Adam Bandt has written to the Prime Minister with an offer that the Greens will put aside "huge" concerns about the scheme.

"The Greens will back Labor's scheme if Labor agrees to stop opening new coal and gas mines," Mr Bandt said.

"Labor's scheme will make the climate crisis worse and actual pollution will go up from new coal and gas projects opening.

"You can't put the fire out while pouring petrol on it. The first step to fixing a problem is to stop making the problem worse."

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The Greens Party Room formally endorsed the position on Tuesday.

Despite the safeguard mechanism being a Coalition measure, the opposition has indicated it will oppose the government's move to tighten the scheme.

The Greens list "huge" concerns about the scheme as including the "rampant" use of unlimited offsets and the "inadequate" emissions reduction targets.

"Labor needs the Greens to get this through Parliament. If Labor's scheme falls over, it will be because Labor wants to open new coal and gas mines," Mr Bandt said.

"Labor has to decide how much it wants new coal and gas mines."

The government's proposed safeguard changes could be dealt with through regulation, but the Minister Chris Bowen wants enabling legislation passed by the end of March if possible so the arrangements can take effect from July.