Premiers call for emissions trading by 2010

AAP Newswire
Sunday 27/5/2007

CANBERRA, May 27 AAP - State and territory leaders today urged Prime Minister John Howard to launch an emissions trading scheme by 2010 with an environmentally credible target to cut greenhouse gases. All eight Labor premiers and chief ministers signed the open letter to Mr Howard ahead of his emissions trading task force reporting on Thursday. They reminded the prime minister their governments had already committed to a national emissions trading scheme by 2010.

"We see such a scheme as an indispensable step in tackling climate change and ensuring Australia reduces its greenhouse gas emissions at least cost," the letter said. "Any scheme must have an environmentally credible, long-term target for emissions reduction, helping to ensure investment certainty while also including measures to protect our energy-intensive, trade-exposed industries." The eight leaders also called for renewable energy targets and research and development of clean coal, carbon capture and renewable energy technologies. "By working together with states and territories you will help ensure a comprehensive approach to climate change action in Australia." Meanwhile, 75 professors of economics today called on the federal government to ratify the Kyoto Protocol.

Australia and the United States are the only developed nations not to have signed the environmental blueprint. The economists signed a statement saying Australia would suffer economic damage by failing to reduce emissions. "Policy measures are available that would greatly reduce emissions of carbon dioxide and other greenhouse gases at modest economic cost," the statement said. "Credible estimates suggest that a 50 per cent emissions reduction is achievable for less than one year's economic growth."