removing the carbon cap saying that investments in several sectors would reduce the emissions anyway. A lot of wishful thinking on the budget text, or on the worst case mental gymnastics malice.

A lot of this is through keeping and raising a carbon tax. That makes companies find the most efficient ways to reduce their footprints, rather than the government mandating it for each group. This is the approach favoured by most serious economists and think groups about reducing emissions quickly.

without details what kind of investment they are putting money in

You can look at the “nation building” projects, which include a massive wind farm (green as hell) and a nuclear plant (fairly clean, significantly better than say, oil or gas.)