Wednesday, October 29, 2008

Acting now on climate change will cost less: Swan

Here is a story about the treasurer Wayne Swan releasing treasury modelling that suggest that acting sooner on climate change will cost less than delaying action. Didn't anyone listen to Stern??


Acting now on climate change will cost less: Swan

By Emma Rodgers

ABC news

30th Oct 2008

Treasurer Wayne Swan says Treasury modelling proves that acting now to reduce carbon emissions will be cheaper than taking no action.

Speaking in Brisbane today, Mr Swan said the newly-released Treasury modelling suggested that costs for countries who act now to reduce emissions will be 15 per cent less over the next 40 years compared to those countries who wait.

"The message is clear - acting early is an economic imperative," he said.

"The modelling proves that the longer we delay, the more expensive responding to climate change will become.

"Acting early is particularly important if countries implement emissions reduction schemes in stages - which at this stage is a likely outcome," he said.

Mr Swan says the figures show that a well-designed emissions trading scheme will allow Australia to reduce the carbon it uses in production by 75 per cent by 2050, without affecting growth.

"That means we will be able to produce more for every tonne of emissions we generate as a nation," he said.

Some parts of industry have voiced concerns that an emissions trading scheme will force them offshore and reduce profits, but Mr Swan says the scheme will promote growth and be affordable to families.

"By using a well-designed, market-based solution, we win on the environment, we win on competitive industry, we win on growth," he said.

Mr Swan and Climate Change Minister Penny Wong will release the full details of the economic impact of an emissions trading scheme later today.

The Opposition has been calling for a delay in the introduction of an emissions trading scheme until at least 2011 in the wake of the global financial crisis.

But Prime Minister Kevin Rudd says the Government's ambition remains for a 2010 start-up date.


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