By John Conroy. The Australian, May 5 2015
Research released today by Beyond Zero Emissions shows that Australia has a 50% chance of systemic economic crisis, caused by ignoring the global shift to clean energy.
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, the Carbon Crisis report says, saying Australia’s industry and exports are emissions intense.
BZE director of research Gerard Drew said that intensity was a growing economic liability as the international community strengthens its efforts to limit climate change.