Cimate Authority exposes Abbott

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From the SMH:

In a draft report that is likely to ignite further debate about the Abbott government’s policies, the Climate Change Authority said Australia should aim for a 15 per cent cut in emissions by 2020 compared with 2000 levels as a “minimum option”.

The authority, which the Coalition has vowed to scrap, said it would represent “an equitable share” of the estimated global emissions budget that could limit global warming to 2 degrees by mid-century.

The draft report, which is due to be finalised by the end of February if the authority survives until then, also recommends considering an even deeper cut of 25 per cent by 2020 to allow “a more consistent pace of emissions reductions” needed out to 2050.

Authority chairman and former Reserve Bank governor Bernie Fraser said: “If Australia is to take this science – and the below 2 degrees goal – seriously, it needs to act now and continue this effort over the long term.”

The report said Australia should aim for a cut of 35 to 50 per cent by 2030 as the country’s contribution to give the world a two-in-three chance of avoiding 2 degrees of global warming.

Direct action on Climate Change Authority emissions imminent.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.