One of Energetics most senior consultants and climate policy experts, Dr Gordon Weiss, has joined a group of eminent climate scientists, researchers and commentators in a letter calling for the Government to commit to deeper cuts to national emissions and drive the growth of renewable energy generation.
Energetics fully supports Dr Weiss in this initiative and the call for greater action.
Our consultants have been advising on energy and the risks associated with climate change for 35 years. We work with Australia’s largest emitters of greenhouse gases across all sectors of the economy and all levels of government. We advise on strategies to achieve emissions reductions, mitigate risks and adapt to the physical impacts of a changing climate.
Australia’s emissions reduction targets not only fall short of our obligations under the Paris Climate Agreement of containing temperature increases within 2 degrees; they fall well short of the 1.5 degree limit advised by the Inter-governmental Panel on Climate Change last year as necessary to avoid dangerous climate change.
A warming world carries significant risks and therefore costs. If the Australian economy, its individual businesses and communities are to flourish and our environment is to be protected, global emissions need to fall. Australia should play its part.
We also know that increasing our emissions reduction targets, decarbonising our energy systems and mitigating the physical risks of a changing climate is in step with the expectations of the global investment community. The way business manages its climate risks is subject to the scrutny of investors. The recent announcements by Rio Tinto, Glencore, Shell and Maersk to develop low carbon business strategies and support the Paris Climate Agreement, are the result of pressure from investors and provide a clear signal to businesses and governments alike that the world must decarbonise.
A failure to develop a pathway to a low emssions economy also ignores the opportunities available in clean energy technologies and new low carbon services. Indeed as the global markets for low carbon, highly efficient and intuitive technologies and high quality carbon offsets grow, there are opportunities for Australian businesses. Energetics also calls upon our governments to support business in the pursuit of these growing markets.