Australia needs both a carbon price and direct action incentives if its power system is to stay globally competitive, research has found.
A report from the University of Queensland’s Global Change Institute said that if the world economy trended towards lower emissions, Australia had to do more to phase out a reliance on coal and gas and develop a mix of energy sources.
The uncertainty of carbon trading meant businesses would need direct incentives to invest in reducing emissions. The study suggested that a combination of Liberal and Labor climate policies would improve Australia’s energy diversity and its economic future.
Read more at The University of Queensland