Center-Right Think Tank Warns Morrison Gov Of "Grave Future For Coal Exports"
A centre-right thinktank with links to former Liberal ministers Robert Hill and Christopher Pyne warns failing to commit to net zero emissions by 2050 will diminish Australia’s international standing and harm our economic competitiveness.
The arguments are laid out in a new report that will be released on Friday by the Blueprint Institute. The report will be launched by the New South Wales environment minister, Matt Kean, who this week declared his party needed to better represent the interests of voters committed to climate action, and end the pointless, backward-looking arguments. The report, called Powering the Boom, notes that Australia has committed to full decarbonisation “by some point this century”. But it says if domestic ambition isn’t increased soon, “the decision may be forced upon us”.
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The report says the scientific case for action is clear but there is also an economic case. It says as major trading partners accelerate their decarbonisation, Australia faces two risks – a rapid decline in demand for carbon-intensive exports, such as coal and gas, and the possible introduction of carbon tariffs.
It notes that China and Japan – two countries on the path to decarbonisation by mid-century – “together account for 52% of our coal exports and 90% of our iron-ore exports”. “China’s declaration that it will achieve net zero by 2060 should be of particular concern to Australia,” the report says. “While this might be viewed with some scepticism, the boldness of the commitment portends a grave future for our coal exports.” “A fall in our coal export volumes would have significant economic consequences.”
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https://www.theguardian.com/australia-news/2020/oct/30/centre-right-thinktank-warns-morrison-government-of-grave-future-for-coal-exports