Australia’s economy and the incomes of Australians will continue to grow with an emissions trading scheme.
Research by the Treasury and other independent groups has shown that, in the short-term, costs of an emissions trading scheme are manageable, and in the long-term, the future of Australia’s economy will be improved by taking action sooner rather than later.
However, if the risk of climate change is not addressed, economic costs will be steep.
Acccording to the Garnaut Climate Change Review, “There are large risks to the Australian economy, and to Australian values…if the concentrations of carbon dioxide equivalent in the atmosphere reach 550ppm and remain there.”
The figure below shows the growth of GNP per person from 2008 to 2050 based on cutting emissions by various amounts between now and 2020. GNP per person continues to steadily grow in each of these scenarios.
Growth in Australia's GNP/person from 2008-2050 under Treasury scenario
| < Prev | Next > |
|---|
On Twitter
Join Our Newsletter
To view our latest newsletter before subscribing click here