- Jillian Broadbent, CEFC Chair
Now that the ACCC has released guidance on what the carbon price means for small business, there is no need for scaremongering. It’s easy. Read it. In essence business is entitled to increase your prices but is legally obliged not to mislead or deceive - by making false, misleading or deceptive claims about the price of goods or services … or making misleading statements in advertising or correspondence. And breathe. At least the folks at Coles have read it – promising to limit any price increases and improve efficiency.
And the World Bank has released an overview of the State and Trends of the Carbon Market. The headline being that it has grown by 11% in $176 billion, trading a new high of 10.3 billion tons of CO2e.
However Australia is not getting its piece of the renewables action. A new UN report tells us that despite the recession, global investment in renewable energy last year was AUD259.5 billion, stating that ‘solar generation surged past wind power to become the renewable energy technology of choice for global investors in 2011’.
Renewable sources have grown to supply 16.7% of final global energy consumption. Ranked highly in terms of investment was China, the US, Germany, Italy and India with Australia barley rating a mention. Interestingly Kenya aims to meet half of its electricity with geothermal power by 2018. Modelling contained within a Pricewaterhouse Coopers report told us that Victoria’s Waubra wind farm has boosted the economy of its region, near Ballarat, by $346 million and created nearly 1700 jobs for the area. And pointedly states that the “renewable energy infrastructure, construction and maintenance creates more jobs per dollar invested than conventional power generation."
The report says investment in the Waubra farm of $226.5 million had increased the Victorian industry output by $685 million and created 1882 new full-time jobs. And in NSW, investment of $52.4 million in the construction and operation of Gunning wind farm had created 358 full-time jobs in its region, reduced regional unemployment by 0.4 per cent and added $69.3 million to gross product for the area.
So let’s ignore the usual negative press about the recent climate study which has been put on hold for no good reason, and legislation in the US of A which chooses to make its own decisions on the scientific projection about sea level rise.
We should probably not ignore the report that China has been under reporting its emissions – by up to 20% according to The Age – but then if you read Reuters reporting it would seem it is not nearly as bad as we are led to believe. Sigh.
A report published in Nature reveals the most comprehensive look at how oceans have warmed and confirms warming is largely due to human induced factors.
And if you missed hug a climate scientist day – I reckon you could retrospectively send a squeeze to your expert of choice. And check it out – the biggest consumer of oil is going green – not just for camouflage reasons. And if you’re into interactive maps– check out this – hot off the press.