Ten leading industry associations have warned Scott Morrison’s inadequate climate policy doesn’t meet principles of “good design, economic efficiency, trade competitiveness and social equity.”
The letter, co-signed by the Australian Industry Group, the National Farmers Federation, and the Property Council among others, reminds Scott Morrison climate policy needs to deliver on the Paris Agreement and, “meeting Australia’s long term ambitions will involve low-, zero- and negative-emissions transformation in every sector of a thriving Australian economy.”
The letter makes it clear Morrison’s rebadged Abbott era climate policy will not reduce emissions economy wide and is failing to reduce emissions currently because “the cost and complexity of engaging with the ERF; the shallow and largely monopsonistic market for credits; and the lack of clear long term ambition.”
The Government’s own data shows emissions have been rising since 2014 and will continue to rise all the way to 2030.
Industry, business and hundreds of thousands of Australians are restless with Scott Morrison’s climate inaction and their message couldn’t be clearer; it is time to drop Tony Abbott’s expensive and ineffective climate policy and develop an economy wide climate policy that will actually deliver on our international obligations under the Paris Agreements.