Climate Commission report highlights value of carbon tax
A report from the Climate Commission has shed new light on the value of the carbon tax and whether the environmental benefits are worth the impact of rising electricity prices.
The Critical Decade: International Action on Climate Change, released yesterday (August 21), names Australia as the 15th largest pollution emitter in the world, and belonging to a group of 20 "carbon heavyweights" which contribute three quarters of the world’s total greenhouse gas emissions.
While the carbon tax may have been largely responsible for the price hikes implemented by electricity suppliers, the Climate Commission asserts that Australia's efforts to reduce pollution are a vital part of the global fight against climate change.
"The world is changing and Australia needs to be prepared if our economy, society and environment are to prosper in future. This involves making investments now in order to reap increasing benefits," reads the report.
"The global pressure to reduce emissions is only likely to increase as the climate shifts and global action accelerates."
According to the report every major economy is now attempting to tackle climate change, with 90 per cent of the global economy having put programs in place with the intention of lowering greenhouse gas emissions.
Amongst some of the strategies being utilised worldwide are regulation and carbon pricing, as well as renewable energy targets and investment.
Posted by Charlie Moore