The value of coal exports will halve as the country slashes its greenhouse gas emissions under the Coalition’s plan to meet its net zero by 2050 commitment, with modelling of the proposal revealing huge financial penalties if Australia fails to take action.
It finds that Australia, by adopting a net zero target, will achieve net economic benefits of about $2000 per person compared to not taking any action. Up to 52,000 jobs could be created in minerals need for clean energy technologies, such as cobalt, copper and nickel. Most of those are likely to be created in southern Western Australia, the Pilbara and regional South Australia.
“The modelling shows that a clear focus on driving down technology costs will enable Australia to achieve net zero emissions by 2050 without putting industries, regions or jobs at risk,” he said. After all the expected reductions from technological advances, Australia is still expected to be producing 215 million tonnes of greenhouse gases a year by 2050. International permits are assumed to reduce this by another 94 million tonnes.The modelling shows that trying to cut emissions without sequestering carbon in land or using international offset permits will be extremely expensive.
The modelling expects 90 per cent of the national car fleet to be zero emission vehicles by 2050. But most of that uptake occurs after 2030.Labor’s climate change spokesman Chris Bowen said the fact the report was released on a Friday afternoon did not bode well for the research.
swrighteconomy So we are meant to trust modelling from McKinsey? This is absolute fucking insanity.There are a lot of smart, intelligent people in business who should be calling this shit out so they can look their kids in the eye? It’s not modelling, it’s a wishful sales pitch to fit an agenda
swrighteconomy Just vote these crims out ASAP.
swrighteconomy When you don’t want anyone to pay too much attention, throw it out with the garbage on Friday arvo. Another clear attempt by ScottyThePathalogicalLiar to avoid scrutiny or be held to any kind of standard.