A Doom With a Review

Report by Australia economist suggests ambitious climate policy

Posted at 10:38 AM on 21 Mar 2008

An interim report on the economic impact of climate change on Australia -- Oz's version of the Stern Review -- has been produced by economics professor Ross Garnaut. The government-commissioned Garnaut Review, which will be published in full in September, points out that Australia's dry climate, heavy reliance on agriculture, and tight trade relationships with developing countries in Asia make it more vulnerable to the effects of climate change than other developed countries. It suggests that Australia should this year commit to reducing emissions 60 percent by 2050, and be prepared to reduce emissions even more if an effective global climate agreement ever emerges. Garnaut supports heavy government investment in carbon capture and sequestration, but also a cap-and-trade system with 100 percent auctioning of permits. "It is in Australia's interests for the world to adopt a strong and effective position on climate change mitigation," says the review, which, we'd just like to reiterate, was written by an economist.

sources: Financial Standard, The Sydney Morning Herald
see also, in Gristmill: Australia's pivotal Garnaut climate report to back 100% permit auctions

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Comments: (2 comments)

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Stern + Garnaut = Extinction

First Stern recommends aiming for a level of atmospheric CO2 that will trigger some of the worst tipping points, as though investing 2% of global GDP is too much to pay for life on Earth. Then, Garnaut recommends a paltry 60% reduction by 2050 from one of the worst per capita emitters when all of the science indicates a need for 80% reductions over the next 15 years. We really need to require some scientific liteacy from our business community before they all move everyone's bottom line six feet down under.

by human power at 12:09 PM on 21 Mar 2008

It's better than nothing right?

That proposal is a big improvement over doing nothing at all. Wouldn't it be better for those of us who feel strongly about the environment and social justice issues to support initiatives that would improve the situation rather than criticizing them because they're not perfect? The gloom and doom attitude that demands perfect solutions now is part of why so little gets done in the U.S. If we are divided, we will never be able to come together to deal with unjust government policies and megacorporations.

by AndrewS at 4:27 AM on 23 Mar 2008

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