Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

I thank the member for Jagajaga for the question, but also for the really important work that she does with the Minister for Climate Change and Energy in our team. The member for Jagajaga understands, even if those opposite do not, that the transition to cleaner, cheaper, more reliable energy is a golden economic opportunity for our country and for its people. That's because, as the ageing coal-fired power stations become less reliable and as they come out of the system, it's those two influences which are pushing up prices, and that's why an orderly transition, and considered investment in cleaner, cheaper, more reliable energy, is so important to our economy.

When we released our 2035 targets, we put out the detailed Treasury modelling at the same time, and the conclusions of that Treasury modelling were really clear. The conclusions were that clear and credible climate action will lead to more jobs, higher wages and better living standards. An orderly transition will give businesses the clarity and certainty they need to seize the opportunity and invest in Australia with confidence. It also concluded that a disorderly transition would mean fewer jobs, less investment, lower wages, lower living standards and higher power prices, in a smaller economy.

What the Treasury also concluded, when they released these three scenarios, is that the only thing worse than a disorderly transition would be to abandon net zero entirely, which is what those opposite are proposing to do.

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