The Morrison Government’s Net Zero by 2050 deal is a fraud while the Government plots to double coal exports, open vast new gas fields and prop-up coal generated power.
Furthermore, the budgetary cost of persuading the National Party to support Scott Morrison’s net zero target are trivial compared to the costs to the economy of delaying new investment according to a new Australia Institute analysis of economic modelling.
“Actions speak louder than words. A net zero by 2050 target is meaningless when we can see from this Government’s actions that it has little intention of meeting such a target, let alone beating it,” said Richie Merzian, climate & energy program director at the Australia Institute.
“The world is gathering in Glasgow in only a few days to increase efforts and targets until 2030, the decisive decade according to President Biden. The Prime Minister has missed the brief and is going to COP26 with an empty net zero by 2050 pledge with no immediate impact and every intention of expanding fossil fuel production.
“The Australian Government has a track record of ‘meeting by cheating’ and another empty pledge reinforces this reputation. It was only at the last COP in 2019 that the Australian Government was accused of cheating its way through the Paris Agreement.
“It is quite clear that investing more money in renewable energy, storage and green industries over the next 9 years will bring forward job creation, electricity price reductions and productivity growth. Such new investments will cause no harm to the farming or mining sectors, but will help address climate change and start creating jobs in regional areas today.
“To attempt to grandstand on the ‘quality’ of Australia’s carbon credits shows just how hollow this net zero plan is. Australia Institute research shows one in five carbon credits issued by the Federal Government’s Emissions Reduction Fund do not represent real abatement, and are essentially hot air.
“Scott Morrison is using climate change as an excuse to shovel taxpayer money to the National Party in exchange for them ruling out any early reforms. They are asking for billions of dollars in compensation despite the fact that they have not provided a single piece of evidence that a more ambitious 2030 target will hurt anything other than their egos.
“Without putting an end to new gas exploration and new coal mines such as the Adani mine and opening the Beetaloo Basin, and a transition plan to power our nation with renewable energy, any purported net zero by 2050 target is a fraud.”