The Nationals' decision to ditch the net zero position it signed up to in 2021 as part of the Coalition will be costly for regional communities and farmers being hit by worsening climate disasters.
Climate Council CEO Amanda McKenzie said: "Abandoning net zero means abandoning a safer future for Australians. It means worsening, climate-driven floods, fires and heatwaves. Communities will pay a high price, particularly in the regions."
Climate Council Research shows abandoning net zero would:
- Reduce economic output by $135-423 billion by 2063, with workers hampered by extreme heat.
- Increase Australian Government spending on disaster recovery up to 7 times by 2090
- Make more than 1.3 million Australian homes (8.8%) likely uninsurable by 2100
- Double freight costs for regional communities in WA, NT And Qld
- Dent property values by more than half a trillion dollars by 2050
Ms McKenzie said, "This is about more than just chaos in the Coalition. In the real world, a net zero backflip aligns with more than 3°C of global heating that would cost farmers and regional towns billions of dollars in damage. The Nationals must explain how they'll pay for the soaring insurance premiums, recovery bills and freight costs when escalating disasters strike regional communities.
"The Nationals aren't standing up for the bush, or farmers – they are selling them out. While the Coalition flounders over climate basics we should focus on the opportunity to strengthen our national environment law – the EPBC Act.
"The Government's proposed reforms have a number of gaping problems: they fail to address climate pollution – the biggest threat to the environment; they will undermine our climate progress by denying the government power to limit climate pollution from massive fossil fuel projects; and they may speed up fossil fuel project approvals despite the harm they cause. Labor has a simple choice: partner with the climate wreckers, or stand with the millions of Australians who want our wildlife and the environment protected from climate harm."
