Greens Leader Christine Milne describes the Abbott government as a ‘plutocracy,’ and ‘wholly owned subsidiary of the coal industry,’ in speech on Climate.
Latest Global Climate Index shows nearly half of world’s biggest investment funds – some in Australia – failing to protect portfolios from climate change.
As Coalition defends funding of climate contrarian Lomborg, business lobby warns Direct Action won’t meet targets, and will blow multi-billion dollar hole in budget.
Representatives from companies around the world met in Switzerland to discuss climate targets. Notably, no Australian company was present.
In the Orwellian world of the Abbott government, coal is good, wind is bad; a cut in renewables is not a cut but an increase; and spending 1/4 of its carbon budget on just 15% of its target is not so much a failure as a resounding success and a blueprint for the world to follow.
Abbott appears to have already blown its carbon budget, selling emissions abatement in first round of auctions at price that would make it impossible to meet even Australia’s modest 5 per cent cut in emissions by 2020.
Have we gone mad? 2°C of warming will bring catastrophic and irreversible consequences. We should not take risks with the climate that we would not take with civil infrastructure.
Coal, the favourite commodity of Prime Minister Tony Abbott, is having a bad week. A new report says 90 per cent of Australia’s reserves should stay in the ground if climate targets are to be met.
Abbott government urge urged to set its emissions reduction targets at 30 per cent by 2025, to meet its share of global challenge to limit climate change. But will Australia listen to advice from Climate Change Authority, or seek solace from favoured skeptics such Bjorn Lomborg?
It may be possible for China to shake most of its reliance on fossil fuels by 2050, with renewables providing 80% of electricity needs.