NEW DELOITTE MODELLING released today confirms that a 75% climate target is good for business and good for Australians, by unlocking enormous economic benefits that will boost our GDP, create jobs, and build new industries.
The Deloitte report reveals that a 75% cut to climate pollution (on 2005 levels) over the next decade would deliver a $370 billion boost to Australia's GDP within the next decade and leave Australia almost half a trillion dollars better off by 2050 compared to a weaker target.
The report was commissioned by Business for 75, a coalition of more than 350 businesses of all sizes and sectors, that support a strong emissions reduction target.
Nicki Hutley, Climate Councillor and economist: "Deloitte's findings validate what a strong body of research has already shown: a strong climate target provides a clear pathway to cutting climate pollution by 75% and opens the door to economic opportunity. This analysis should give the Albanese Government confidence to get on with the job of setting the strongest possible climate target.
"Strong targets give investors certainty, crowd in capital, and set Australia up to expand green manufacturing and clean industries that deliver new export opportunities. Put simply: setting a strong climate target now will deliver a stronger Australian economy for decades to come."
Amanda McKenzie, CEO, Climate Council: "Australians are already experiencing the harsh reality of climate change, bushfires, floods and deadly heat are hitting harder and more often. Strong climate action means fewer lives lost, fewer families forced from their homes, and more of the places we love protected.
"The climate target the Government sets this year will guide climate action for the next ten years. After a decade of delay under the Coalition and the early signs of progress under Labor, we now have the chance to turn the wheel and correct the course.
"The majority of Australians want our government to do more to address climate change, and business leaders are calling for increased action too. Setting the strongest possible target would help shield communities from worsening climate harm and give our kids a safer future."
Dr Joel Gilmore, Climate Councillor and energy expert: "Deloitte's analysis shows that stronger targets could bring forward billions in investment, deliver tens of thousands more jobs and open up huge clean export opportunities. From critical minerals to green iron, Australia has a winning hand to supply the world with the clean products of the future.
"Today there are 33,000 people working in renewables and there will be tens of thousands more in 2030. The further and faster we move with strong climate policy, the more Australian communities will benefit - with secure jobs and long-term prosperity for Australian workers and their families."
The Deloitte findings show that adopting the strongest climate target is a credible and realistic pathway: reducing climate pollution further and faster, cutting economic risks, and setting Australia up to thrive in the global clean economy.
