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This post is an extension of a letter published by The Age.
Last week, deputy director of the Australian National University’s Climate Change Institute, Frank Jotzo, made the case that carbon pricing is the “single most important tool” for decarbonising the Australian economy.
While Frank Jotzo’s carbon pricing rhetoric is reassuring, it is off the mark in terms of climate change politics and policy. The challenge of implementing carbon pricing is greater than ever. The government’s backdown on the resources super profits tax will embolden Australia’s greenhouse mafia, who will double their efforts to kill off, or substantially weaken, carbon-pricing legislation.
In a policy sense, Jotzo overstates the ability of emissions trading to de-carbonise the economy. Measures to rapidly deploy large-scale renewable energy technologies like concentrated solar thermal and other low-carbon infrastructure must be the “central plank” of credible climate policy. Carbon pricing can play a supportive role to these initiatives.