The Business Council welcomes the release of a broad and comprehensive Terms of Reference for the 2017 Review of Climate Change Policies that will enable all relevant issues to be considered. It is particularly pleasing to see the need for integrated energy and climate change policies explicitly recognised.
“We need a suite of durable, post-2020 climate change policies that are integrated with broader energy policy and are capable of delivering Australia’s emissions reduction targets at lowest possible cost, while maintaining competitiveness and growing Australia’s future prosperity” Business Council Chief Executive Jennifer Westacott said.
“The last thing Australia needs is to start from scratch on climate change policy and the Terms of Reference acknowledge this. We can achieve our 2030 target by building on the existing regulatory frameworks while developing specific policies in electricity, the built environment, transport and land‑use sectors to drive transformational change.
“The Terms of Reference support consideration of emission reduction opportunities on a sector-by-sector basis and call out the impact climate change policies can have on jobs, investment, competitiveness, households and regional Australia which is vital.
“It is also encouraging that the Terms of Reference enable consideration of the important role credible international permits can play in reducing emissions at lowest possible cost.
“In conducting its review, the Government will need to consult widely with business and the community to ensure that any suite of climate change policies can deliver: sustainable growth in the Australian economy; reduction in the emissions intensity of the economy to enable Australia to meet future emissions targets; and unlock lower emission sources of comparative advantage.
“We are very pleased that the Terms of Reference recognise the need for strong consultation. The Business Council looks forward to engaging with the Department of Environment during the course of the review in 2017.”