During February and March 2011, Professor Ross Garnaut will release a series of eight papers that update his original 2008 Climate Change Review.
The individual papers will re-examine:
The costs and benefits of climate change action
International mitigation efforts
Global emissions trends
Climate science
Opportunities for abatement in the land sector and biosequestration
Proposals for reducing emissions, including different carbon price instruments
Technology developments and innovation policy
The electricity sector.
Of particular relevance to the clean energy industry are the update papers on carbon pricing, low emissions technology and the electricity sector – papers 6, 7 and 8 respectively.
Paper 6, titled Carbon pricing and reducing Australia’s emissions, will make recommendations for introducing a system where emissions production is linked to financial loss. Paper 7, titled Low emissions technology and the innovation challenge, will address the current and future capacities of the clean energy technology sector in Australia and policy that can aid it. And, paper 8, Transforming the electricity sector, will address the way forward to creating a less fossil-fuel intensive energy supply industry.
Industry comment
Clean Energy Council Policy Director Russell Marsh spoke with EcoGeneration about the Garnaut update papers.
In what way do you envision the Garnaut update papers impacting the renewable energy industry?
Ross Garnaut’s updates are important because they agree with the argument that a carbon price won’t magically make all our problems go away as soon as it is legislated. It’s a critical reform, but it will take time to implement and become effective.
The clean energy industry believes that additional support is required to address a generation of under-investment in renewables and energy efficiency. The Government needs to underwrite investment in new and emerging technologies such as ocean and geothermal energy, which need assistance to support home-grown research.
Image caption: Russell Marsh, Policy Director, Clean Energy Council.
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