Shadow climate minister says new evidence proves Abbott govt ERF auction only bought 10 million tonnes of new carbon abatement, at cost of $66/t.
As China realises the unpriced costs of coal power, such as air pollution, coal production is starting to fall.
The ravages of climate change could severely hurt the ability of utilities in the 11 Western states to generate power unless they “climate proof” their power grid.
Canada follows EU, US with 30% by 2030 emissions reduction target ahead of Paris climate negotiations in December. Australia left behind again, although Canada target is not all it seems.
Abbott’s 2015 Budget ignores climate change and clean energy, retains fossil fuel subsidies, and confirms planned closure for key institutions such as CEFC, CCA.
A “massive” global expansion of solar power — possibly enough to supply about a third or more of the world’s electricity — may be necessary by 2050.