You Might Be Tempted To Think That Anything Australia's Gov Says On Climate Has Meaning. Don't Be.
MELBOURNE, Sept 27 (Reuters Breakingviews) - It’s tempting to hope the Australian government led by Prime Minister Scott Morrison is starting to see the light on climate change. In a speech on Friday, Treasurer Josh Frydenberg called it a “structural and seismic shift” for the country’s financial system, which relies heavily on overseas investors increasingly cognisant of the impact of rising temperatures. Morrison on Sunday confirmed he’s working on a national net-zero policy. Trouble is, there’s a big risk of greenwashing. Breakingviews drills into the administration’s reluctance to tackle global warming, and how to scrutinise whatever plan emerges.
WHY DOESN’T AUSTRALIA HAVE A NET-ZERO PLAN ALREADY?
In short, politics. Climate change has played a significant role in the defeat of at least four, if not five, of the country’s six prime ministers since 2007, and usually by party coup rather than at the ballot box. The current administration is a coalition government in which Morrison’s Liberal Party relies on the support of the smaller National Party for its one-seat majority. The National Party traditionally represents rural Australia, home to farmers and coal miners. One of their more outspoken members, Matt Canavan, declared on Sunday that he is “dead set” against net-zero.
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SO COAL IS A HUGE PART OF THE COUNTRY’S ECONOMY?
Actually, no. In a good year, the value of exports approaches A$70 billion ($51 billion). Nice to have, but it’s 13% of exports and around 3% of GDP. Overall, the industry supports some 40,000 jobs, or one-third of 1% of the workforce.
FRYDENBERG SAID AUSTRALIA IS CUTTING EMISSIONS FASTER THAN MANY OTHER COUNTRIES, THOUGH. ISN’T THAT GOOD?
He’s playing loose with statistics. Australia’s emissions have come down around 20% since 2005, when the country hit peak acreage destroyed by deforestation and the like. The Liberal-led administration chose that year rather than 2000 when setting its Paris targets in 2015. Frydenberg’s data also includes the effects of the pandemic and intense water shortages between 2017 and 2019 when cattle numbers and their related emissions dropped. If they’re excluded, Australia’s emissions have increased 7% since 2005, according to the Australia Institute think tank.
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https://www.reuters.com/breakingviews/breakdown-beware-aussie-net-zero-greenwashing-2021-09-27/
