Enigin Update - Australia can more than Double Emission Cuts
A REPORT by a ClimateWorks think-tank states that Australia will achieve over double the Treasury’s forecasted emissions cuts through carbon pricing and energy efficiency.
Anna Skarbek, ClimateWorks Australia executive director, said the research shows that if implemented successfully, Australia’s carbon price package announced by the government with the default scheme cap of 5 per cent below 2000 levels by 2020, could reduce 133 million tonnes of carbon emission by 2020 within Australia, which is more than double the Treasury’s modeling through the carbon price alone.
The think-tank predict that the carbon price along with complementary key measures included in the package, such as the proposed National Energy Savings Initiative for energy efficiency, a Clean Technology Investment Programme and tax breaks for Green Buildings, will help to remove barriers to reducing carbon emissions.
The energy efficiency measures achieved through the national energy savings initiative and projects driven through the Clean Energy Finance Corporation, are also forecast to be large contributors to emissions cuts.
Skarbek: “Our analysis of the government’s package looked at financial and non-financial barriers to reducing carbon emissions in three key areas of energy efficiency, land use (forestry and agriculture) and cleaner power.
“We found that the carbon price improves profitability for these actions by making it more cost effective for business to reduce emissions.
“However, there are also non-financial barriers to reducing emissions, which include access to capital, information and market structures. These are not addressed by the carbon price but can be removed as a result of complementary measures in the package.
“For example, the package provides financial support in the form of grants, loans, equity investments or load guarantees that will overcome some of the shortage of capital facing investors.
“Measures that provide access to information and improve awareness and understanding of how to achieve energy savings will also help households and businesses reduce emissions,” Skarbek added.
Enigin Distributors in Australia are helping businesses and organisations gain control of their energy use and improve energy efficiency through implementation of technology from Enigin - saving energy and costs while reducing emissions - resulting in a win-win for the bottom line and the environment.
Picture of Sydney Opera House by Linh rOm under Creative Commons license.
