Before you start speculating about what Trump/Paris means for Australian climate policy
I wrote this short Twitter thread for journalists in particular. I know when something big happens internationally, like Trump’s Paris announcement, it’s tempting to get into horse race mode about the “domestic implications” and start throwing around words like “emboldened”.
Before you try to read too much into it, consider this:
- Australian electricity generators WANT a net zero emissions target by 2050:
2. The lack of proper climate policy is costing us MORE than any proposed carbon price — because it stymies investment. Here is the Australian Energy Council: “Government inaction to progress our energy and climate policy has resulted in partisan politics driving uncertainty in energy and higher costs…” and this price is equivalent to more than $50/tonne.
The Energy Council also says about 5,000MW of supply has dropped out and not been replaced, because of energy and climate policy inaction.
3. Virtually all Australian industry groups support Paris Agreement. That includes the Business Council of Australia, AiGroup, and the aluminium and energy industry associations — these industry groups and more stood with unions, the social sector, and environmental groups to call on the government to “play its fair part in global efforts to avoid 2°C”.
4. Most large Australian investors explicitly support the Paris Agreement. See the IGCC statement here — it represents more than $1tn of Australian assets.
5. The biggest GLOBAL investment managers — large owners in Australian companies — are now voting on climate risk.
6. The majority of Australians want us to lead on climate action. The Climate Institute’s “Climate of the Nation” survey has shown this for years
7. In fact 87% Australians support Paris & almost 2/3 think we should help make up for any effects of US withdrawal — that’s an excerpt from the latest survey.
