Economic data for a decarbonising world
The Climate Change Authority has released its new Insights Paper, Economic data for a decarbonising world, outlining how Australian economic data could evolve to help policymakers, business and communities navigate the transition to a net zero world. The Authority recommends that the Australian Government invest in the development of new economic data to help Australia identify and respond to the challenges and opportunities that lie ahead.
Economic data for a decarbonising world presents three key insights:
Zoom in, not out: Zooming out can help simplify information to guide investment and purchase decisions, but only granular data can help us understand and plan for the transformation of the economy.
Bring datasets together: Improving the alignment of economic, emissions and other data in a more detailed, comprehensive and timely way would be a sensible step.
Look ahead to plan ahead: As well as tracking economic impacts, economic data could yield insights about what might be to come for the economy.
To accompany the release of Economic data for a decarbonising world, the Authority is publishing a supporting technical report by Accenture – Measuring the low-emissions economy in Australia – that considers how Australia could define and measure its ‘low emissions economy’.
Accenture technical report [PDF]