Modelling that shows Labor’s climate policy could cost billions is ridiculous

The national debate about climate policy is off the rails again.

We should be talking about positioning Australia for
a low-carbon future, instead, it’s carbon wars again.

We should be talking about positioning Australia economically for the low-carbon future, making use of our huge opportunities to produce low-cost clean energy, and mobilising investment. We should be having a serious conversation about what are the best policies needed for that. And we should understand the implications of Australia’s climate policy for our long-term competitiveness and international standing.

Instead, it’s the carbon wars once more. A confected furore over the presumed cumulative economic cost dominates the headlines, provoked by a single short report with some scary-looking numbers. The paper by Brian Fisher is a private black-box modelling exercise of no particular standing that uses outdated assumptions.

But we still have news reports citing its supposed findings that “the Labor emissions target would subtract at least $264bn from gross national product by 2030”, and numbers as high as $542bn have also been used.

Read the story from The Guardian by Frank Jotzo - “Modelling that shows Labor’s climate policy could cost billions is ridiculous.”