This is probably the biggest news on climate change in Australia for a little while. Garnaut is doing ecnomic modelling for the Australian government on climate change and recommending policy options.
The report has just been released at www.garnautreview.org
Quick grabs: 50% reduction in irrigated agriculture in the Murray-Darling Basin by 2050 and 92% by 2100. Early economic modelling suggests that “middle of the road” temperature rises would knock: 4.8% off projected GDP, 5.4% off projected household consumption & 7.8% off real wages by 2100. All permits in the Emissions Trading Scheme should be auctioned with half the revenue allocated to households, 30% to industry & 20% to developing new technologies. A $3 billion per year increase in funding for low emissions technology research, development & commercialisation is needed. Opens the door for a low fixed price in the first years of the scheme (read: almost no actual emissions reductions).
Here’s the Greens arguing against a soft (low fixed price) introduction on ABC News.
NSW won’t meet it’s own weak emissions targets – leaked cabinet papers – SMH
New Victorian Coal Plant off to shaky start – delayed 4 yrs – The Age
EU gearing up for 30% cuts by 2020 – SMH
8% of Sydney’s waste to be turned into electricity – SMH
NSW Government has failed, in 10 yrs, to introduce integrated public transport ticketing – SMH
