Dana Wortley (SA, Australian Labor Party) Share this | Hansard source

I rise to take note of answers provided by Ministers Wong, Carr and Evans today. It appears as though those people opposite were not listening to the answers provided. They have just gone off at their own tangent. A carbon price is a major economic reform that will create an incentive to reduce pollution and drive investment in renewable energy and low emissions technologies. The government recognises the concerns of industry in adapting to a clean energy future and adopting carbon pricing. However, the introduction of a price on carbon is an essential economic reform that will help Australian business, industry and communities to combat future challenges. Origin Energy, in a media release, said:

To drive a switch to lower carbon options in the electricity market, the fundamental requirements are a clear and credible long-term pricing framework and a carbon price that makes a real difference to investment decisions. Today’s announcement is a very positive start …

In another press release, the Clean Energy Council said:

... today’s announcement was an important step forwards in locking in long term investment certainty for both the clean energy industry and the power sector as a whole.

“A carbon price must be the cornerstone of any effective climate change strategy” ...

The Multi-Party Climate Change Committee has agreed on the principle that appropriate account will be taken of the impacts on the competitiveness of all Australian industries, having regard to the carbon prices of other countries while maintaining incentives to reduce pollution. Meeting Australia’s emissions reduction target without having a price on carbon would be more costly than doing it by harnessing the power of a carbon price.

A price on carbon is the most efficient and effective way to reduce carbon pollution. It will create incentives throughout the economy for people to reduce carbon emissions, either through adopting existing technologies and practices or by finding smart and innovative new ways of doing it. The Climate Institute’s Clean energy jobs in regional Australia report, released on Monday, 28 February, predicts that a substantial carbon price would trigger tens of billions of dollars of investment in geothermal, large-scale solar, bioenergy, hydro, wind and gas. This is important work and it highlights the opportunities that could be created for Australian manufacturers in these emerging industries.