The Opposition yesterday seized on a warning by resources company Nyrstar of possible smelter closures under green paper rules. But Nyrstar's modelling assumes full cost pass-through, even though the company has just negotiated a favourable long-term power contract for its Hobart smelter. And neither its annual report or half-yearly results list emissions trading as a key risk.
Treasury climate change modelling 'is not diminished' by not taking account of the financial crisis and Australia's ageing population will be a far stronger brake on economic growth than cutting emissions, a senior Treasury official said yesterday. The Coalition's Andrew Robb said the speech 'confirms' the Government's policy failures.
The New Zealand National Party, which will form a coalition government following Saturday's election victory, wants to overhaul the nation's emissions trading scheme and align it as closely as possible with Australia's. with video
Missing scenarios, unexplained assumptions, a questionable reference case and way, way too late – as Cabinet discussions on the trading white paper loom, the Australian Industry Greenhouse Network critiques the Treasury modelling.
The world's efforts to remedy the global financial crisis could prove a massive opportunity for investment in a low-carbon economy, Climate Change Capital's James Cameron told a Carbon Market Expo on the Gold Coast that has drawn more than 1,000 delegates.
Prime Minister Kevin Rudd last night told the BCA that the nation could fall victim to protectionist measures if it failed to act quickly and credibly on climate change. Meanwhile, Opposition Leader Malcolm Turnbull and Ai Group chief Heather Ridout say the modelling leaves credible global scenarios unexamined.
