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1/ Too my media contacts and friends. Looking at media this morning on ALP climate plan. Legitimate questions about the impact on big emitters BUT it is not just about cost.
2/ It is also about benefit. Big emitters and their industry groups always raise how terrible reducing pollution will be for them. This is largely driven by short term thinking and their individual interests.
3/ Some of this will be legitimate but the economic welfare of the country is not determined by major emitters. The economy is broader than this and this has to also be considered.
4/ Australia is a high emissions economy. This an economic disadvantage as the world shifts to zero emissions. Capital is global and will go to countries which have lower emissions intensity because it is exposed to less carbon risk.
5/ The longer we delay serious action on climate change the worse this problem becomes. As I said, some company concerns are valid and policies should be put in place to manage the transition from where we are today to a net zero emissions economy.
6/ Just make sure when you are talking to companies and their industry groups that you ask the same questions that investors now ask them.
7/ What is your plan to mange transition to net zero emissions? Does your board and management have the expertise to manage this transition (if they have not been expecting carbon constrains then probably not)?
8/ Do you agree that it is in the Australian economies overall interest to significantly reduce carbon and climate risk?
9/ Sorry for rant. After 30 years in climate policy just sick of debates that focus on the trees not the forest.
