The cost of inaction on carbon emissions

Unfortunately, it is inherent in our political system to have government and opposition, to govern and to oppose. Until we have a policy-based, multi-party system of politics in Australia we are condemned to scaremongering, whoever is in opposition and that is unproductive.     

The reality is that other countries are acting on carbon and have done so for some time and contrary to the sky falling in the system appears to be working well.

• The Scottish Government has committed to a target of 100 per cent renewable energy by 2020.
• Northern Ireland is committed to 40 per cent renewable by 2020.
• The Welsh Government has indicated that it has the potential to produce twice the amount of electricity it currently uses from renewable sources by 2025, and deliver 4 GW of this from marine energy.

These are areas of the U.K. that traditionally suffered high unemployment and relied heavily on extractive industries. They are also regions not blessed with long days of strong sunshine like Australia.

Despite our continent being blessed with abundant solar, geothermal, wave and wind power opportunities, we are the highest per capita polluters on the planet:

According to the Australian Bureau of Statistics (2001): “Over 90 per cent of total energy consumed in Australia is based on an energy source derived from fossil fuels”.

Moreover, Australia is the largest exporter of coal on Earth. More than half the world’s metallurgical(coking) coal is mined in and exported from Australia. That would make Australia responsible directly and indirectly for a much larger percentage of global emissions than any other country.

According to Peter Daniels, Senior Lecturer at the Griffith School of Environment at the Griffith University, clinging to carbon is bad for Australia’s economic future for five reasons:

• Carbon tariffs and peak oil will push up prices and decrease export competitiveness.
• Demand will reduce for Australia’s existing exports as the world’s economies become less dependent upon fossil carbon energy.
• There will be poor gains in energy efficiency throughout the entire economy (due to lack of incentives).
• The economy will become increasingly inflexible and there will be more barriers to competitive change as we continue to invest in industry, urban and social infrastructure based on fossil carbon energy.
• Our fossil carbon dependence will reduce confidence and international capital flows into the Australian economy.

Source: Key World Energy Statistics 2009, IEA

The time has come surely, to stop bickering and opposing, whichever side of politics one represents and get on with the task of fixing the mess Australia has created before the mess turns Australia into a no go zone in the global economy.