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> 7.5 million
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15 February 2008
An Australian Cost Curve for Greenhouse Gas Reduction
Introduction
Australia's recent ratification of the Kyoto Protocol forms a binding commitment to stabilise greenhouse gas (GHG) emissions at 108 percent of 1990 levels by 2012. Failure to do so will have real consequences in the upcoming commitment periods, and current projections indicate that Australia will need to strengthen its efforts to meet this target. Furthermore, the growing consensus among scientists, policy makers and business leaders is that the challenge of climate change is real and increasingly urgent, and that further proactive measures must be taken beyond 2012 to prevent a drastic change in the global climate. Given this, it is likely that we will see more stringent targets for all Kyoto members (eg 25-40 percent below 1990 levels by 2020).
This raises important questions for policy makers and business leaders in Australia. In particular, how can short-, mid- and long-range targets be met while limiting the impact on the Australian economy? Today, policy makers are investigating the best mechanisms to enable this change. Many business leaders are rightly focused on exploiting the commercial opportunities created by this change while maintaining national and international competitiveness. Given this, government and business together with the broader public stand to benefit from a thorough understanding of the GHG abatement potential in Australia and the relative cost of available opportunities.
This report addresses the questions of 'how much, when, and at what cost?'. Download the report below.