Nick Sherry (Tasmania, Australian Labor Party, Assistant Treasurer) Share this | Hansard source

The low-carbon economy of the future offers an enormous opportunity. It offers opportunities to those people in those countries ready to take action. China, for example, as a significant trading partner offers enormous opportunities for business to benefit from its low-carbon development. The recent report by PricewaterhouseCoopers for the China Greentech Initiative estimated the total addressable market size for clean- and low-pollution industries in China could be between US$500 billion and US$1 trillion by 2013, so it presents significant opportunities for value adding for those countries like Australia that act early and decisively in responding to this very significant economic challenge. The low-carbon future will bring a new wave of innovation without putting the renewable energy sector, expected to grow some 30 times its current size— (Time expired)