none

INDUSTRY TO PLAY KEY ROLE IN ACHIEVING EMISSIONS TARGETS

14-08-2015
by 
in 

The federal government’s new emissions target will require a major effort from industry – particularly trade exposed industries, says the Australian Industry Group.

“The pressing challenge for us all is to develop efficient, effective, durable policies that can deliver these cuts without eroding the competitiveness of our trade exposed industries, said AiGroup chief executive, Innes Willox.

Mr Willox said a cut of 26-28% below 2005 levels by 2020 is comparable to targets announced by Japan and Canada.

This would require Australian emissions reductions scaling up to more than 250 million tonnes per annum by 2030, based on recent projections of business as usual growth and the outcome of Renewable Energy Target negotiations. 

“The new target is a major step change from anything deliverable by current policies,” he said. 

For comparison, if the target were delivered solely through Budget spending it would cost between $100 billion and $250 billion in unadjusted terms. 

If the 50 percent 2030 renewable energy goal recently floated by the Opposition were achieved, it would only deliver around a sixth of the emissions cuts sought. 

“The numbers are huge and there is a good chance that even tougher targets will be needed to meet the 2 degrees goal shared by all sides of politics to manage the risks of climate change, Mr Willox said.

“It will be vital to ensure that emissions are reduced at least cost and that trade exposed industries do not suffer an unnecessary loss of competitiveness due to uneven international climate policies.  Access to international emissions reduction opportunities is going to be an essential supplement to domestic activity if we are to achieve these goals at a manageable cost.” 

Mr Willox said the cost of these targets to industry and households – and their success – depends on policies yet to be developed by either side of politics. 

“Those policies have got to operate at the lowest achievable cost if they are to be responsible. They need to be durable if they are to be relied on by investors.” 

Ai Group is a member of the Australian Climate Roundtable, which brings together leading business, environment, union, research and social organizations.

Mr Willox said climate policies will only be effective if they outlive the governments that introduce them. 

“Moving beyond partisanship is hard but necessary if any emissions target is to be met.” 

Related news & editorials

  1. Hayley Glasgow
    12.04.2021
    12.04.2021
    by      In
    More than half (55%) of Australian manufacturers with off-shored operations intend to bring them back to our shores by 2023, according to a survey of 500 senior manufacturing employees in December last year.
    This is largely being driven by market volatility caused by the pandemic and strained... Read More
  2. AMW Melbourne 2022
    09.04.2021
    09.04.2021
    by      In
    Australian Manufacturing Week 2022 (AMW), the premier manufacturing solutions event, promises a strong line-up of content and will focus on leadership, future solutions and additive manufacturing.
    AMW is owned and operated by the Australian Manufacturing Technology Institute Limited (AMTIL). which... Read More
  3. Engineering graduates
    09.04.2021
    09.04.2021
    by      In
    Graduates of Australian universities are far more likely to satisfy their employers if they hold an engineering or related degree than is the case if they hold a creative arts degree.
    Satisfaction levels are ranked at 90.5% and 78.3% respectively, according to a survey last year by Quality... Read More
  4. Conymet Duratray
    08.04.2021
    08.04.2021
    by      In
    Cranbourne Victoria will become the centre for an internationally supported manufacturing facility that will create up to 100 new highly skilled jobs.
    Minister for Economic Development Tim Pallas welcomed the decision by Conymet Duratray International to grow its current Victorian footprint by... Read More
Products
Suppliers