Westpac will 'avoid' transactions that support greenhouse-gas intensive power plants and is 'speaking out' on sustainable business practices, but has fallen short of meeting this year's target for cutting its own greenhouse gas emissions, today's sustainability report reveals.
High-cost schemes that subsidise wind power and household solar PV should be dropped and replaced with an economy-wide carbon price, says a briefing to the multi-party committee established to forge political consensus on a Federal carbon policy regime.
Electricity consumers face an unexpected $600 million increase in their 2011 electricity bills because the Federal Government has grossly under-estimated how many certificates will be created from small-scale solar PV systems, according to several leading businesses and industry groups.