For Australia to shift to a net zero economy, its big polluters need to cut emissions. A get-out clause buried in the policy makes it unlikely that they will, and the result will be devastating.
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30 of the 50 economists surveyed want a carbon price of the kind introduced by Julia Gillard in 2012 and abolished by Tony Abbott in 2014. Several say there’s little “time left to act seriously”.
Labor has promised a 43% cut in Australia’s emissions by 2030 and a high-integrity carbon credit market is vital to reaching this goal.
