The only way to bring down power prices is to pull out of the Paris Climate Agreement, according to research released today by the Institute of Public Affairs.
“For Australia to meet the binding Paris Climate Agreement emission reduction obligations, further substantial reduction to emissions in the electricity, transport, and agricultural sectors is required. This will impose significant and irreparable economic and social damage without producing a discernible environmental benefit,” said Daniel Wild, Research Fellow with the free market think tank the Institute of Public Affairs.
A new parliamentary research brief on the Paris Climate Agreement by the Institute of Public affairs was today provided to all Federal Members of Parliament.
“The Paris Agreement is all pain and no gain for Australian workers, businesses, and families. The government must withdraw immediately.”
“Australia is not ‘on track’ to meet the Paris Agreement targets despite extensive and prolonged government intervention in the energy market that has resulted in Australia having the fourth highest electricity prices in the developed world.”
“It has been acknowledged by government Ministers that Australia has committed to the deepest cuts to emissions per capita in the developed world. This has put Australia at a serious economic disadvantage compared with the rest of the world.”
“What Australia does will make no noticeable difference to the global climate. Even if the Paris Agreement were implemented in full by all signatory nations it would only produce a two-tenths of one-degree Celsius reduction in global temperature by the year 2100,” said Mr Wild.
Read the Parliamentary Research Brief: Ten Points About The Paris Climate Agreement