Climate change creates money worries

Queensland’s resource sector industries have submitted a six-point checklist to the Federal Government’s Garnaut Climate Change Review.

The checklist is designed to ensure Queensland jobs and industries are not put at risk by policies seeking to haul the nation’s greenhouse gas emissions.

The sector’s peak representative body, the Queensland Resources Council (QRC), has urged Professor Ross Garnaut to carefully consider the implications of new policy measures on a Queensland economy largely dependent on trade-exposed, energy-intensive industries.

In its submission, the QRC says that a national carbon plan requires a coherent suite of settings across six key policy areas including an emissions trading scheme as the most efficient means of putting a market price on carbon, clearly defined carbon offset mechanisms, funding for the research, development and deployment of all low-emission technologies.

Also included in the list of recommendations was the systematic achievement of energy-efficiency savings across the economy to defer the need to construct new electricity generation capacity until low emission-technologies are commercialised and the development of appropriate planning approval guidelines for energy generation and emission intensive industries.

In a further detailed submission on an emissions trading scheme (ETS), the QRC said the international competitiveness of Queensland’s emission-intensive, trade-exposed (EITE) industries should not be eroded for the benefit of existing and potential international competitors who are not exposed to the cost of comparable carbon constraints.

Key points in QRC’s emissions trading submission included the design elements of a national ETS should avoid exporting emissions simply by diverting new investment and existing production overseas in order to avoid a carbon price-signal and to ensure future investment and availability of electricity generation capacity.


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