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Will Australia Meet Paris Agreement

Another chance for agile companies is to quickly change the law in this area, and agile companies, which can quickly and effectively change the way they work to navigate in a changing environment, are in a better position. For example, organizations can benefit from incentive schemes if they are able to detect opportunities at an early stage and adapt. Similarly, companies that are rapidly preparing for likely regulatory reform may gain a competitive advantage over peer organizations when in-depth regulations limit their activities on key issues. Government support for the fossil fuel industry is hurting a low-carbon future. The Prime Minister sent mixed messages and initially said the government would build a gas-fired power plant if the electricity market did not commit to 1 GW of electricity shipped by April 2021 to replace the Liddell coal-fired power plant, which is due to retire in 2023. There was no evidence of 1 GW of gas was needed, given the new announcements of major renewable energy and battery zones projects. A few days later, the Prime Minister withdrew this statement, but mixed messages and the threat of competing with a state-subsidized company create uncertainty for investors. The government has appointed a national advisory board of the COVID-19 commission to provide a business perspective for economic recovery. The panel included representatives from fossil fuels and the mining industry. The Commission recommended the operation of a trans-Australian pipeline, as well as an increase in the national gas supply and subsidies for the production of electricity from gas. Using the credits to meet their obligations under the Paris Agreement would effectively reduce the emission reductions Australia needs to meet its 2030 target. “The 2019/2020 bushfire season has clearly demonstrated the effects of climate change in Australia and it is essential that we as a nation show leadership to meet our commitments, but we do so without creating economic conflicts,” said Professor Bradlow.

Today, Morrison`s government released updated projections of Australia`s greenhouse gas emissions, indicating that Australia is on track to meet the 2030 Paris targets without resorting to “deferral credits” from the Kyoto period. If we do not need to use the Kyoto transfer credits to achieve the Paris targets, perhaps rather – rather than because — the policy of the federal government. The president of the Academy of Technology and Engineering (ATSE), Professor Hugh Bradlow, said the Australian Academy had analysed the emissions curve and that Australia had technically met the Kyoto Protocol targets but was unable to meet future goals of the Paris Agreement.

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