Nation’s economy will thrive with emissions trading

Monday, 16 July 2007 21:08

“Quick action on targets and emissions trading will benefit Australia, both environmentally and economically.  It will grow small and medium businesses; and could also make Australia the regional hub for carbon trading services.  Thousands of jobs are also at risk if we don’t act now,” said Jeff Angel, Director of the Centre.

“Consumers will also benefit by having access to energy efficiency and if transport is included, the motor industry will have to increase the fuel economy of cars.”

The review outlines the costs of not taking any action and exposes the inadequate government information currently available.  Reviews such as those by ABARE do not consider the benefits that are associated with emissions trading.

The TEC review also suggests up to $1.5 billion dollars could be lost from tourism associated with the Great Barrier Reef alone, and $17 billion worth of agricultural export will be placed at risk when temperatures rise, just a few degrees. Thousands of jobs are also at risk.

“Australian industry can avoid a ‘carbon-debt shock’ if we have a head-start in the inevitable shift to a low carbon economy.  The rapid, mandatory application of deep carbon cuts and negative economic impacts later can be avoided, by taking action here and now,” Mr. Angel said.