MEFL welcomes initial findings from the Garnaut Review Interim Report
February 23, 2008
The Interim Report released on 21 February has stated it is in Australia's interests for the world to adopt a strong and effective position on climate change mitigation.
The Report states that 'Australia is relatively well placed to do well in a world of comprehensive global efforts to reduce greenhouse gas emissions' and that Australia should promote strong global action on climate change.
The Garnaut Climate Change review has been commissioned by Australia's Federal, State and Territory Governments to examine the impacts and opportunities of climate change on the Australian economy.
The review will investigate the costs of climate change impacts if we don't reduce emissions versus the costs and benefits of reducing emissions. Garnaut's findings will influence the 2020 target for greenhouse emissions reductions that the Government has said it will set this year.
In releasing the Interim Report Garnaut also said that 'Australia is more vulnerable to climate change than most other developed nations as we are highly sensitive to climate variation, and we are surrounded by mostly developing nations, which are likely to be adversely affected by rising temperatures.'
But he also said that 'We have many resources and skills that will allow us to convert strong global action into an economic opportunity.'
Professor Garnaut has stated that Australia should be ready to go beyond its stated 60 per cent reduction target by 2050 and make firm commitments this year to both 2020 and 2050 targets that reflected similar adjustment cost to that accepted by other developed countries.
The final Review is due to be completed by the 30 September 2008.
Interested organisations and individuals are invited to make a submission to the Review by Friday 11 April 2008.
To download the Interim Report and find out more about making a submission visit www.garnautreview.org.au
