Sly ScoMo’s net-zero commitment to carbon mitigation

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Sly ScoMo is at it again. While we’ve all been subjected to the great pantomime of the Nats playing climate outrider to burnish the appearance of ScoMo’s climate credentials, the truth behind the scenes is leaked to the BBC:

A huge leak of documents seen by BBC News shows how countries are trying to change a crucial scientific report on how to tackle climate change.

The leak reveals Saudi Arabia, Japan and Australia are among countries asking the UN to play down the need to move rapidly away from fossil fuels.

…The leak shows a number of countries and organisations arguing that the world does not need to reduce the use of fossil fuels as quickly as the current draft of the report recommends.

An adviser to the Saudi oil ministry demands “phrases like ‘the need for urgent and accelerated mitigation actions at all scales…’ should be eliminated from the report”.

One senior Australian government official rejects the conclusion that closing coal-fired power plants is necessary, even though ending the use of coal is one of the stated objectives the COP26 conference.

Saudi Arabia is the one of the largest oil producers in the world and Australia is a major coal exporter.

…A number of countries argue in favour of emerging and currently expensive technologies designed to capture and permanently store carbon dioxide underground. Saudi Arabia, China, Australia and Japan – all big producers or users of fossil fuels – as well as the organisation of oil producing nations, Opec, all support carbon capture and storage (CCS).

It is claimed these CCS technologies could dramatically cut fossil fuel emissions from power plants and some industrial sectors.

…Australia asks IPCC scientists to delete a reference to analysis of the role played by fossil fuel lobbyists in watering down action on climate in Australia and the US. Opec also asks the IPCC to “delete ‘lobby activism, protecting rent extracting business models, prevent political action’.”

A significant number of Switzerland’s comments are directed at amending parts of the report that argue developing countries will need support, particularly financial support, from rich countries in order to meet emission reduction targets.

It was agreed at the climate conference in Copenhagen in 2009 that developed nations would provide $100bn a year in climate finance for developing countries by 2020, a target that has yet to be met.

Australia makes a similar case to Switzerland. It says developing countries’ climate pledges do not all depend on receiving outside financial support. It also describes a mention in the draft report of the lack of credible public commitments on finance as “subjective commentary”.

Sly ScoMo has a net-zero commitment to carbon mitigation.

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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.