nuclear-news

Keep to emission cuts, say economists

Keep to emission cuts, say economists

The Age Ari Sharp

January 3, 2009

ECONOMISTS have given a lukewarm response to Kevin Rudd’s carbon emission reduction targets, but have urged the Federal Government not to be spooked by the global economic downturn.

Last month, the Government revealed it would be seeking to reduce carbon emissions by 5 per cent on 2000 levels by 2020 unless an international agreement on carbon trading could be reached. In that case, the reduction target rises to 15 per cent. The 2050 target is a 60 per cent reduction.

“There’s never going to be a good time to introduce this, so the current crisis should not be used as an excuse to delay,” said Chris Caton from BT Financial Group. So far, the timing of the carbon pollution reduction scheme (CPRS) does not appear to have been affected, with the Government committed to a 2010 start date.

University of Queensland academic John Quiggin argued that the pursuit of environmental policies could in fact bolster the economic recovery. “Use green jobs programs as a focus of expansionary policy,” he said………………………….Monash University academic Jakob Madsen said steep price increases on carbon were needed to encourage the development of alternative fuel sources. “In Denmark, 40 per cent of the energy will come from renewable resources by 2020. Australia should easily be able to meet that target.”………………………..

The Scandinavian social democracy will be in the spotlight in December when world leaders gather in Copenhagen in an attempt to nut out a global agreement on emission reductions beyond 2012.

“The world is watching Australia and we can use this opportunity to help broker an international agreement,” said Austrade’s Tim Harcourt.

Keep to emission cuts, say economists

January 3, 2009 - Posted by Christina Macpherson | Uncategorized