A leading economist will outline the projected financial cost of carbon abatement to Australia, at a free lecture in Melbourne.
Professor Philip Adams from Victoria University’s Centre of Policy Studies said economic modelling on emissions trading schemes showed the costs to be quite reasonable, especially given the projected costs incurred under climate change scenarios.
“An analysis of the potential economic impacts of a carbon price on the Australian economy that operates as part of a global emissions trading scheme shows significant abatement outcomes are possible, especially at a high price for emissions,” Professor Adams said.
“These possibilities are greater, the more optimistic we are about Australia’s potential to deliver forestry sequestration credits to the world, and about the cost of new renewable forms of electricity generation that have the potential to replace conventional fossil-fuel electricity.”
Under global emissions trading, the global scheme sets the price and allocation of permits across countries. Research shows domestic abatement falls short of targeted abatement, Australia’s GDP is about 3% lower relative to the base case, and some industries and regions are vulnerable to employment losses.
The Centre of Policy Studies is a large research centres specialising in economic modelling. Professor Adams’ current research interests are the economics of climate change and the economic effects of climate-related policies.
Professor Adams will be speaking at the University’s College of Business Research Seminar Series.
Media are welcome and Professor Adams will be available after the event for questions.
Event is 1 April 2014, 1pm to 2pm
Venue: Victoria University, City Flinders Campus. Level 11, 300 Flinders Street, Level 11, Room 1101
Available for Interview:
Professor Philip Adams
Centre of Policy Studies, Victoria University
(03) 9919 1435; [email protected]
Michael Quin, Research writer
Public Affairs Department, Victoria University
(03) 9919 9491; 0431 815 409; [email protected]