A NEW REPORT released today by the Climate Council reveals that the government’s lack of federal climate policy exposes the nation to severe economic consequences including 20,000 jobs at risk in New South Wales from carbon border tariffs.
Markets are moving: the economic costs of Australia’s climate inaction was written by Climate Advisor Nicki Hutley, a former partner at Deloitte Access Economics.
Ms Hutley said: The world is responding to the climate crisis and carbon limit tariffs are now inevitable. Australians will pay the price if the federal government does not cut our national carbon emissions in line with our major trading partners and NSW will be disproportionately affected.
The European Union announced a Carbon Border Adjustment Mechanism (CBAM) in July 2021. Ms Hutley said the new modeling by economists at Victoria University shows that Australia will experience a cut in our Gross Domestic Product (GDP) as a result.
If South Korea, China and the Group of 7 follow suit, New South Wales will be heavily affected by the dominance of targeted exports especially coal. Under the above scenario, the state is projected to lose about 20,000 jobs and more than $ 5 billion in Gross State Product.
The federal government must step forward and create support for the affected regions. The new low-carbon economy is coming and we urgently need a transition plan for Australian communities and workers, Ms Hutley said.
REPORTING MAIN FINDINGS:
- The European Union CBAM is expected to be the first of many such schemes as countries re-level the economic playing field for climate action. Such moves are being considered by Australia’s major trading partners.
- A growing number of countries have a carbon price which requires those responsible for creating emissions to pay for them. As such carbon prices continue to rise, inaction costs will also rise.
- Every day that the Australian Government delays climate action is hurting families and businesses in lost economic opportunities and rising costs.
Ms Hutley said there was great potential for investment in clean jobs and industries with modeling from Beyond Zero Emissions estimating that Australia could create a new $ 333 billion-a-year green export mix, almost three times the value of existing exports of fossil fuels. Deloitte Access Economics modeling suggests that support for a low-carbon economy would add $ 680 billion in economic growth and 250,000 new jobs by 2070.
We have the natural resources and ingenuity to become a world leader in renewable energy, and in industries such as lean manufacturing, mineral processing and renewable hydrogen bringing tens of thousands of jobs to states and regions.
Ms. Hutley said the federal government action has long been delayed. As a first step, we need to align with our key trading partners and at least halve emissions by 2030. In line with science, the Climate Council recommends a 75% reduction by 2030 on the road to zero by 2035.
For interviews with Nicki Hutley or John Connor please call Brianna Hudson on 0455 238 875 or Hannah Izzard on 0475 247 754.
The Climate Council is Australia the leader of community-funded climate change communication organizations. We provide authoritative, expert and evidence-based advice on climate change to journalists, policymakers and the wider Australian community.
For more information, go to: weathercouncil.org.au
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]