Emissions Reduction Targets

“You run the real risk that you’ll destroy the economy without any benefit to the world’s climate … If you look at the Australian proportion of greenhouse emissions as part of the world, it’s only about one per cent. If you pull a figure out of the air like 60 per cent and say we are going to meet that target without a proper economic analysis, you run the risk of having a major economic impact which affects employment, social welfare and the capacity to support social programs. (It could cause) more than a recession.”