Paris Plus: From cost to competitive advantage
The Climate Change Authority has released a new insights paper. ‘Paris Plus: From cost to competitive advantage’ outlines the Authority’s strategic framework, insights drawn from our forthcoming research report on trade and investment trends, and priorities for work to ensure Australia can set increasingly ambitious emissions reduction goals that address all sectors of the economy and policies backed by a strong evidence base.
For Australia to continue to grow and prosper in a world taking increasingly strong action to reduce emissions, and given global trends towards low emissions trade and investment, it makes good sense to see reducing emissions as a source of competitive advantage.
'Paris Plus: From cost to competitive advantage’ sets out five key insights to help build Australia’s competitive advantage in reducing emissions in a net zero world:
- producing the cleanest exports at the lowest cost to succeed in overseas markets as the world shifts towards net zero emissions
- taking every viable opportunity to mitigate and sequester emissions as fast and efficiently as possible
- basing our policy choices and investment decisions on information about our competitors, supply chains and the factors that contribute to Australia’s competitive advantage
- embedding ourselves in international climate change rule making, building off our existing knowledge, expertise and policy architecture
- ensuring that global and regional markets function in a manner that accelerates, smooths and lowers the cost of achieving net zero emissions.
The Authority’s research report, Trade and investment trends in a decarbonising world examines the global reorientation in trade and investment that is underway globally, as governments, regulators and markets around the world begin transitioning to net zero emissions, and considers what these trends mean for Australia.