Paris Plus: From Cost to Competitive Advantage
8 October 2021: Climate Change Authority's 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 for 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 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 forthcoming research report, Trade and Investment Trends in a Decarbonising World will examine the global reorientation in trade and investment underway as governments, regulators and markets transition to net zero emissions and what this means for Australia.