Two leading Australian energy economists have recommended a reverse auction to manage closure of unwanted brown coal-fired power plants, and the UK government has set a schedule for the end of coal-fired power in that country.
Australia has already largely paid the costs of global efforts to decarbonise, says Professor Ross Garnaut, while an adviser to Lord Stern says decarbonising will be costly for some companies but not for nations.
Three Australian industry associations are among 20 business groups from around the world that last night wrote to the UN climate secretariat calling for a stronger commitment to linked carbon markets.
Malcolm Turnbull's elevation increases the chances of the Coalition and Labor agreeing on important aspects of climate policy, says Carbon Market Institute chief executive Peter Castellas.
Many Australian businesses have experienced a 'lightbulb moment' on climate change, according to EY's new Oceania climate change and sustainability leader, Matthew Bell.
Economist Warwick McKibbin says the Abbott Government has set an acceptable 2030 emissions goal, even though his modelling shows Australia could cut much deeper for the same cost by using international units.
The Abbott Government has left the door open to using international credits to help meet its new 2030 emissions target, and PM Tony Abbott might attend UN climate talks in Paris.