BZE Report ‘Carbon Crisis’ – key points:
1. Projections of Australia’s energy production expect our footprint to grow from 3% to 16% of the global carbon budget by 2050.
2. Global economic risks cannot be controlled by domestic actions and policies. Carbon related risks can be directly reduced by domestic actions and policies.
3. Reduced demand for Australia’s emissions intensive exports represents a 50% chance of causing a systemic crisis.
4. Penalties on emissions in excess of Australia’s fair share* represents a 50% chance of causing a systemic crisis.
5. The time delay for investments to convert to real emission reductions requires forward planning. The earlier actions are taken, the lower the risk of crisis.
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