Allianz hails Garnaut’s emissions stance
Ross Garnaut
Professor Ross Garnaut has struck the right balance between ensuring Australia plays its full part in the international effort to reduce global greenhouse gas emissions and not embarking on an economically damaging course, according to insurer Allianz.
General manager corporate affairs Nicholas Scofield said Garnaut’s proposal for a 10 per cent reduction in emissions in Australia by 2020, off a year 2000 base, as part of an international agreement, was “achievable, but challenging”.
“While a 10 per cent target looks low on the face of it, it represents a reduction in Australia’s per capita emissions of nearly 30 per cent, taking into account population growth and the fact that Australia is well above its 2000 levels.
In the absence of an international agreement to reduce emissions, Scofield said, Garnaut’s proposed target of a 5 per cent reduction in emissions by 2020 would still require a per capita reduction in emissions of 25 per cent, which would still be a significant economic challenge.
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