The Australian Industry Group (Ai Group) and the Business Council of Australia (BCA) have written to all members of the Australian Parliament urging them to act in Australia’s long-term economic interest and amend the Clean Energy Future legislation to include essential safeguards to protect Australia’s competitiveness.
Without those safeguards, the Groups believe that legislation will create risks to Australia’s competitiveness, making it a flawed approach to putting a price on greenhouse gas emissions.
The Clean Energy legislative package passed through the House of Representatives on October 12. The 19 Bills, which comprise the Clean Energy legislation and the Steel Transformation Plan Bill, will put a price on carbon pollution, and the government hopes that they will also promote investment in renewable and clean energy technologies.
The Ai Group and BCA say that they have worked with both Coalition and Labor governments in an effort to ensure Australia’s policy response to the risks associated with climate change is workable, fiscally responsible and does not make Australian industries uncompetitive if competitor nations do not take equivalent actions.
“Our principles are that emissions reduction should be achieved at least cost, while preserving competitiveness and providing a strong basis for future investment,” they say.
Both groups have called for a multifaceted approach to emissions reduction where Australia acts in tandem with other nations and which includes an internationally linkable market-based emissions trading scheme with broad coverage, research and development in lower-emissions technologies and a focus on how Australia adapts to the impacts of climate change.
"We believe that a workable policy should achieve meaningful reduction in global emissions at lowest cost to all Australians; facilitate the intended long-term restructuring of the Australian economy while maintaining the competitiveness of our trade-exposed industries including manufacturing, steel, aluminium and coal, until comparable costs of greenhouse gas emissions are implemented by competitor nations; and provide cogent reassurance about the future reliability and financial viability of the electricity industry,” the letter, signed by Heather Ridout, Chief Executive Officer of the Ai Group, and Jennifer Westacott, Chief Executive of the BCA, said.
LAWANDTAX-NEWS.COM
