Leading climate think tank the Climate Institute has strongly criticised the Liberal-National opposition leader Tony Abbott’s statement that there will be no extra funding for the coalition’s Direct Action plan on climate if it fails to work.
The Climate Institute said in a statement that the coalition would need substantial extra regulation or a rethink on repealing the carbon laws if it was to offer no extra dollars and stick to its 2020 carbon reduction pledge of five to 25 per cent emission reductions.
“Yesterday the coalition made it clear that it will be offering no extra funds for its climate policy, while on the same day Climate Shadow Minister Greg Hunt re-affirmed commitment to the bipartisan 2020 emissions reduction target range of five to 25 per cent off 2000 levels, dependent on global action,” said John Connor, CEO The Climate Institute.
“This is a welcome restatement of the coalition’s target commitment, but there is no publicly available evidence that its policies and funding can achieve even the smaller target.”
“On available evidence, achieving the smaller target may only be possible with significant greater regulation interventions.
“This would include shutting down existing power plants, imposing low emission requirements on new LNG plants and stringent energy efficiency requirements such as emissions standards for cars and dramatically higher renewable energy standards.”
Last month The Climate Institute released analysis based on modelling from Monash University and Sinclair Knight Merz that concluded that coalition policies would at best achieve a nine per cent increase in emissions by 2020 and require an extra $4 billion to $15 billion to achieve the 2020 targets.
Mr Connor said all other publicly available analysis from private and public sources such as Allens, Ernst and Young, Reputex and Treasury highlighted a likely shortfall.
“Like (United States) President (Barack) Obama’s plan, achieving targets without a price and limit on emissions will mean throwing the regulatory kitchen sink at this challenge,” said Mr Connor.
“The Coalition owes it to Australians to demonstrate how their plans can achieve the target and they shouldn’t repeal existing carbon laws, which can do the job, before offering a credible alternative.”
“The Coalition needs to reveal before repeal.”
“The importance of this to all Australians was reinforced in poll data released by WWF overnight which shows that 59 per cent of voters rate the reduction targets as more important than repealing the carbon tax.”
“Under the Kyoto Protocol and other international agreements, Australia is committed to reduce emissions by up to 25 per cent below 2000 levels by 2020.”
“The ability to achieve 25 per cent reductions by 2020 remains the key climate policy credibility test,” concluded Mr Connor.
To see a comparison of the party policies on climate change, please see www.2013pollute-o-meter.org.au