The strength of Australia’s economy and viability of Australian businesses will ensure the country is able to respond to economic, social and environmental challenges, including climate change.
The drafting of legislation and the development of an implementation framework for the Carbon Pollution Reduction Scheme is occurring at a time of a sudden and severe downturn in the global economy.
The finalisation of the scheme details and the implementation, especially in the early years, will require a tailored approach that is aligned to global and national economic conditions and designed to ensure industry and employment opportunities are not adversely impacted.
This does not mean Australia should walk away from the ongoing international negotiations, nor does it mean work on the details of the CPRS should be stalled.
It does mean making sure the introduction of the CPRS does not lead to further economic, environmental and social uncertainty.