Greenhouse gas emissions Earth to Pete. Its easy to meet your Kyoto targets when you negotiate a target that is an 8%
The final topic to address this evening regards the environment.
Global warming is a phenomenon that the Australian Government has recognised and is taking steps to address.
Because it is a global phenomenon any effective action requires international action to address, and Australia has to date more than met the Kyoto targets on greenhouse gas emissions.
The key weakness of Kyoto though was that it didn’t include major developing countries like China and India.
Australia’s total emissions are 1.5 per cent of global emissions. If Australia shut down all its power stations today, the saving in emissions would be replaced by China by the time of next year’s Grand Final. China adds the total of all Australian emissions each eleven months.
Australia played a key role in bringing together for the first time China and India, along with the US, Japan, South Korea and ourselves to form the Asia-Pacific Partnership on Clean Development and Climate – known as the AP6.
Australia has committed $100 million to this practical initiative, one of its main goals being to foster the development and deployment of clean technologies to address the climate change challenge, while encouraging growth and development.
Domestically, the Australian Government is supporting the ongoing innovation and commercialisation of renewable energy technologies through the $100 million Renewable Energy Development Initiative and the $500 million Low Emissions Technology Demonstration Fund to help the private sector demonstrate clean fossil and renewable technologies.
My view is that as the hottest and driest continent on earth, we have an interest in not making Australia hotter or drier.
Our energy policy must strike an appropriate balance between our environmental responsibilities and continuing economic growth.