Certainty will let businesses drive the transition

27 July 2022

The Government’s climate bills will lock in our emissions reduction goals, and by getting the details right they’ll help set a clear and achievable path to get there, Business Council chief executive Jennifer Westacott said.

“Prime Minister Albanese and Minister Bowen have brought Australia a step closer to ending the climate wars that have put a handbrake on progress and become a serious economic barrier.

“We welcome this legislation and the adoption of key elements of the Business Council’s plan to reach net zero emissions. The nation can’t afford to go back to the future, we must move forward now to secure a frontier economy powered by affordable, reliable, secure and low emissions energy.

“43 per cent is a sensible, achievable target which can be delivered alongside new industries and better jobs with coordinated action. We support approach that sets a floor not a ceiling, allowing Australia to exceed our emissions reductions targets as new and existing technology develops.

“In particular, we support the government empowering the Climate Change Authority to set clear, evidence-based and predictable carbon budgets.

“It will be critical for the government to work closely with business to implement this plan, because it’s business that will drive the transition, invest in the new technology and start the new industries.

“To get this done and deliver certainty, we can’t make the same mistakes as the past and let ambiguity and uncertainty undermine progress.

“Businesses will drive this change, so we must avoid unintended consequences that hold up transition driving projects, investments in new and existing industries, or make it more difficult secure the capital needed to keep our economy growing. 

“Not only can we reach our targets without holding up job creating projects, these investments in new and existing industries will be critical to deliver emissions reductions alongside better opportunities for Australians.

“We thank the government for working with business to deliver a workable plan, reduce emissions and strengthen Australia’s economic future.”


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