The Stern Report

Tuesday, 31 October 2006 22:14

The world's most important analysis of global warming by the former chief economist of the World Bank says the benefits of taking action far outweigh the costs of doing nothing. The report, commissioned by the British Treasury, confirms that we need to cut emissions by 80% to stabilise the climate, and calls for emissions trading.

To read The Stern Report click here.

Australia is (still) debating an emissions trading scheme - the Carbon Pollution Reduction Scheme. TEC opposes the current version which gives too many concessions to the big polluters including billions of dollars in compensation. It's a recipe for continued investment in polluting power, drastically limiting the transition to a low carbon future. The 2007 independent Garnaut report set out an approach but it was all downhill from then.