Oliver Yates has today slammed a new report commissioned by The Government on the cost of acting on climate change, reported widely in today’s media, given it is based on flawed assumptions and its purpose is to deliberately misinform.
A new report has been released today by BA Economics which deliberately inflates the cost of taking action on climate change, by restricting renewables to 50% by 2030, using high gas prices, and excessive costs for storage or firming renewables.
The report Economic consequences of alternative Australian climate policy approaches (now with added comments provided by Oliver Yates) is deeply flawed and wrong. Oliver Yates, Independent candidate for Kooyong and former head of the Clean Energy Finance Corporation, said the report is rubbish.
“Here’s how you can tell the report is rubbish. If the forecast carbon price was $40, we would have 100% renewables. This reports suggests that carbon prices would be well over $100 yet we have 50% renewables.
“In a high emission reduction case, you would have a high amount of renewables, as they would cheaply decarbonise the power sector, building sector, and a good chunk of manufacturing.
“This report models +$100 a tonne, but caps renewables at 50%. No wonder the costs blow out. You would have to be having a laugh to suggest that renewables would only be at 50% by 2030 with a $100 carbon price.
“Regardless of the final analysis, all it shows that a trading system allowing permit trading would results in a lower costs a mechanism rejected by The Government.
“The report assumes that uncontrolled climate change has no cost.
“Fear mongering about the cost of acting on climate change, that ignore the costs of not acting, and restricting renewable to 50% by 2030 is designed to produce analysis supporting The Government policy.
“The Liberal don’t care about climate change, and their policies will fail to reduce emissions consistent with our Paris commitments or hold global temperature rise to below 2 degrees.
“Time and time again, this government will do nothing on climate change or resist the urgent action that’s required."
Read more on Oliver's climate change credentials here.
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