The resilience of Australian businesses to the impacts of climate change is a major topic of debate.
What the experts have to say.
It’s an issue the Government’s leading economic commentator says could see it hit the bottom line.
Key points:Businesses can’t afford to put money into the sector as a whole, so the Government is taking action to make it resilientThe Prime Minister has made a promise to “reinvest in Australia’s businesses” to help boost growthThe Federal Government has committed to spending $5.8 billion over three years to fund projects to make Australia’s small and medium-sized enterprises more resilient to climate changeThe Government is targeting $5 billion in investment in the energy sector to help businesses adapt to the impact of climate impactsThe Coalition’s plan would also include a range of measures, including investing $1.3 billion in “green energy” projects.
“We have to think of how to best respond to climate events, and I think we need to think about how to respond to those events in a way that’s more resilient,” Mr Morrison said.
“But there’s a lot of uncertainty about how much we’re going to get out of this $5-billion.”
The Prime Minster said he was “looking for the right way” to respond.
“It’s not just about our economy; it’s about our way of life and our ability to function as a nation,” he said.
But Dr Thomas Thoms, an expert on business climate change and chief executive of the Australian Chamber of Commerce and Industry, said the Government needed to take more time to consider its strategy.
“I think the best way to go about it is to have a real conversation with the business community, which I think the Government has been missing in the process,” he told the ABC.
“And that’s the only way we’re really going to make the right decisions about what the right response is.”‘
The only way to get the right decision is to make sure we get it right’Dr Thoms said the key to the Federal Government’s plan was to invest in the “energy sector”.
“We need to invest money in the sectors that are more resilient, particularly in energy-intensive sectors, like agriculture and the mining industry,” he added.
“Those are sectors that have the biggest impacts on the economy.”
They’re going through the hardest time and they’re going into the most difficult times.
“The Australian Council of Trade Unions’ national director, Nick Lowles, said he hoped the Government would “look at the business case” for the investments.”
If the Government really wants to invest $1 billion in the ‘energy sector’ then the business sector will pay the price,” he explained.”
The Government’s spending on climate change has created a lot more jobs in agriculture and other industries and it’s going to create jobs in the mining sector.
“Topics:economics-and-finance,government-and.parliament,government,australiaFirst posted February 16, 2020 16:47:14Contact James GaughanMore stories from New South Wales