Opposition’s plan chance to end climate uncertainty

Ambitious emissions reduction plans announced by the Federal Opposition today offer a pathway to achieve the economic and technological transition towards a more sustainable future.

“Australia needs to pull its weight when it comes to action on climate change. The critical test for this policy, whether it sinks or swims, will be its impact on energy prices for businesses and for consumers. Any transition to reduce emissions must deliver lower power prices and ensure increased reliability,” ACCI chief executive Andrew McKellar said.

“A bipartisan commitment to reach net-zero emissions by 2050 is fundamental for businesses to take action to reduce their emissions. Of course, further analysis of the Federal Opposition’s plan is required to understand the impact that businesses will face in transitioning towards a low-emissions economy.

“It is encouraging to see updated 2030 targets that push the frame towards more ambitious action on climate change. If Australian businesses are to remain international competitive, we must have the clear policy settings that that signal this commitment.

“Reforms to reduce the baseline of the safeguard mechanisms are a sensible approach, recognising that the businesses need certainty to be able to compete with their foreign counterparts. This will provide a stable policy framework for the biggest emitters to adopt renewable energy resources.

“We give the Opposition credit for announcing its detailed emissions policy well in advance of the forthcoming federal election. This means businesses and the Australian public now have the capacity to assess both major parties in this policy area.

“With business leading the way, ACCI will continue to work with Government and Federal Opposition to ensure that action on climate change creates jobs, grows businesses and drives our economic recovery to ensure a more sustainable future.

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