The purpose of this letter is to share research and analysis conducted by the Institute of Public Affairs (“the IPA”) with the Clean Economy Jobs, Resources and Transport Committee (“the committee”, as it conducts its inquiry into the Clean Economy Jobs Bill 2024 (“the bill”).
The bill aims to enshrine into legislation the emission reduction targets of the state government, those being 30 per cent reduction below 2005 levels by 2030, 75 per cent reduction below 2005 levels by 2035, and net zero by 2050; empower ministers responsible for specific economic sectors to create ‘emissions reduction plans’ stating how the sector can contribute to achieving the emissions reduction targets; and create a new government agency—the Clean Economy Expert Panel—which will provide advice to the environment minister about achieving these targets and recommendations to reduce greenhouse gas emissions in Queensland.
IPA analysis of the bill finds:
- The bill confers on government ministers inappropriate discretion to set interventionist ‘emission reduction plans’ on specific industries that will impose significant economic harm on regional Queensland.
- Net zero will increase household power prices through the removal of baseload power sources.
- The bill will undermine Queensland’s energy security.
On the basis of these findings the IPA recommends that the bill and the policy of net zero emissions by 2050 be abandoned, and further recommends that the Queensland state government legislate a mechanism in which no baseload power station can be closed down unless and until there is a like for like baseload replacement ready, such as coal or nuclear.
