G8 Decision and new report on the risks of climate change released by Minister for Climate Change

01 Jul 2009Archived News Energetics in the News

Yesterday, Senator Wong released a report developed by the ANU Climate Change Institute, coinciding with the G8 decision only hours earlier to focus efforts on limiting average surface temperature increases due to climate change, to 2 degrees celsius above pre-industrial temperatures.

The Minister's release of the report strongly suggests that science is increasingly driving governments' policy response. In her media release the Minister states that a failure to address the challenges of climate change was "inexcusable".

Now is the time to consider strategically positioning your business. Climate change presents a business risk and importantly new business opportunities. As we now plan for economic recovery, early action will ensure your business is positioned ahead of your competitors. Immediate opportunities include access to government funding. During May, Energetics reported on the range of funding announcements made by the Federal Government in its 2009/10 Budget. Click here to read Energetics summary of the Federal Budget.

The ANU Climate Change Institute report found that climate change is happening rapidly. The need for greenhouse gas mitigation is now urgent and that the breeching of "tipping points" or threshold changes in the world's ice cover or carbon cycles will cause irreversible damage that will accelerate climate change. The G8 target of containing climate change to a 2 degree celcius increase on pre-industrial temperatures, is broadly agreed across the scientific community as the limit to which temperatures can increase before tipping points are triggered. While 2 degrees celsius doesn't sound like a major increase, the difference in temperature between the last Ice Age and present time is only about 5 degrees celsius. During the course of the 20th century, average world temperatures rose by 0.7 degrees celsius.

To read the ANU Climate Change Institute report click here
To read Minister Wong's press release click here

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