Carbon Crisis Report (2015)

  • Cover of Carbon Crisis Report

“Carbon Crisis Report: The Systemic Risk of Carbon Emission Liabilities.”

Australia has a 50% chance of systemic economic crisis, caused by ignoring the global shift to clean energy.

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Australia’s industry and exports are emissions-intensive. This intensity is a growing economic liability, as the international community strengthens its efforts to limit climate change.

Without changing the Australian investment focus towards cleaner energy, the country is on course for systemic economic decline; which means high unemployment, high debt, and deep recession.

Projections of Australia’s energy production expect our footprint to grow from 3% to 16% of the global carbon budget by 2050.

Global economic risks cannot be controlled by domestic actions and policies. Carbon related risks can be directly reduced by domestic actions and policies.

Penalties on emissions in excess of Australia’s fair share represents a 50% chance of causing a systemic crisis.

The time delay for investments to convert to real emission reductions requires forward planning. The earlier actions are taken, the lower the risk of crisis.


This report by Beyond Zero Emissions is a companion piece to the Renewable Energy Superpower report and the Carbon Capture and Storage report.


Author: Gerard Drew
First Edition February 2015


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The Carbon Crisis report draws on commissioned research carried out for BZE by
the “National Institute of Economic and Industry Research” (NIEIR)
www.nieir.com.au.
Download NIEIR’s Carbon Crisis Technical Report here.


Reading

Australia risking “systemic economic crisis” in decarbonising world
(The Australian: 5 May 2015),

Australia faces risk of systemic economic crisis without carbon action
(SMH).


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Our research is showing that Australia can rapidly move to a zero carbon emissions economy.  We can become a renewable energy superpower, grasping a secure and prosperous future. View a brief overview of our plans for this transition.

Beyond Zero Emissions is having impact, for example: (1) Our 2012 report, Repowering Port Augusta, and our advocacy eventually led to the 2017 $680 million contract for a solar thermal plant in South Australia, and (2) BZE has been ranked as one of the best independent think tanks in the world, by the Lauder Institute in Pennsylvania USA.

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By | 2018-06-11T16:14:53+00:00 05 May 2015|Energy Sector, Publication Overview|0 Comments