In Australia’s Port Hedland, 50 mechanics work through the night at Pilbara Motor Group, customizing new sport-utility vehicles for cash-rich miners, defying assertions that the country’s commodities boom is over.
Australia can’t rely on its resources boom to ensure better living standards over the next decade and the government needs to tighten its budget to create room for interest rate cuts, Trade Minister Craig Emerson said.
Australia, the fourth-largest wheat exporter, risked more climate-change damage than other developed countries partly because of the threat to its agriculture, said Ross Garnaut , the federal government’s adviser on the topic.
Australia can shutter carbon intensive coal-fired power plants in Victoria state, limiting operations to when demand for electricity surges during summer, government climate change adviser Ross Garnaut said.
Australian climate-change adviser Ross Garnaut says a carbon price of A$26 ($28) a metric ton may raise about A$11.5 billion in the first year if planned laws aimed at curbing emissions are introduced.
The cost to the Australian economy of tackling climate change will increase because of a “late start globally” in efforts to curb carbon emissions, the federal government’s climate change adviser Ross Garnaut said.
Australia should double funding to spur the development of low-emissions technologies to A$2 billion to A$3 billion a year as part of an effort to curb pollution, government climate change adviser Ross Garnaut said.
Australia, the world’s biggest coal exporter, would “cease to be a drag” on global efforts to tackle climate change if the country introduced a carbon price, the government’s adviser Ross Garnaut said.