The Federal Government has finally released the first National Climate Risk Assessment report – a harrowing and comprehensive insight into what our climate future looks like if we continue with business as usual.
Every year, the case for action becomes stronger – insurance costs go up, the risk of fires and floods increases, and now we are seeing significant bleaching of our beloved Ningaloo Reef.
The report forecasts that by 2050 the annual economic cost of climate-related impacts on Australian taxpayers may be nearing $40 billion.
For decades, climate scientists have pleaded with governments to act to prevent us from exceeding 1.5°C of warming. Currently, we are on track for close to 3°C of warming.
Australia cannot solve climate change alone — no country can — but that is not a reason to do nothing.
The Federal Government will soon announce its 2035 emissions reductions target, in line with our international obligations under the Paris Agreement. This target will set our course for the next decade.
Setting an ambitious emission reduction target doesn’t just fulfil our international obligations; it also provides the investment certainty required to attract capital to the industries that will employ our kids and grandkids.
Australia has all the ingredients to prosper in a net-zero world — sun, wind, space, critical minerals, a stable economy, experience with large projects, and key resources including iron ore — everything global economies need to transition to a more sustainable future.
Pulling back from net-zero commitments, like the WA Liberal Party State Council would like Australia to do, would doom our economy to irrelevance in the coming decades and make it harder to attract capital.
Policy certainty gives businesses confidence to invest. With a credible plan, we can diversify and future-proof our economy.
I’ve pushed the Government to commit to a 2035 emissions reduction target of at least 75 percent, which the Climate Change Authority says is achievable, because ambition is in our long-term national interest.