“The Business Council of Australia (BCA) welcomes the opportunity for consultation on the Opposition’s preferred 2030 emissions reduction target, which will provide the vehicle for necessary analysis of the sectoral and whole of economy impacts of various 2030 targets,” BCA Chief Executive Jennifer Westacott said.

“It will be critical that the consultation process considers the rate of technological transformation and the structural adjustment that may be required across the economy before determining any position.

“The Climate Change Authority’s suggestion of a 45 per cent reduction on 2005 level emissions is one starting point that needs to be considered in the context of a range of other potential targets including the Government’s target of a 26-28 per cent reduction on 2005 level emissions.

“If we are to transform the Australian economy, a long-term abatement goal is critical for delivering investor confidence.
“To support this transformation, Australia also needs credible interim greenhouse gas emission abatement targets supported by effective policy mechanisms.

“The role of technology and the cost of reducing Australia’s emissions cannot be underestimated. Five yearly reviews provide the opportunity to increase Australia’s targets as the technology frontier is better understood,” Ms Westacott said.

For further information contact:
Matt Newton, Communications Adviser
Business Council of Australia
Telephone (02) 8664 9207 • Mobile 0409 550 578