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Australian carbon tax 'unavoidable'.

29/11/07 THE AGE, (M. MURPHY) -- A carbon tax in Australia is "unavoidable' to achieve significant reductions in greenhouse gas emissions, according to HSBC Bank Australia chairman Graham Bradley. Mr Bradley told an Australian Institute of Company Directors luncheon that companies needed to recognise reducing their direct and indirect carbon impact could give them a competitive advantage. "Influencing the supply chain is the biggest opportunity for most businesses," he said. "Daily we see the 'freight train' is already upon us ... and I, for one, believe we can do better." Mr Bradley said major action needed to be taken to stop the world's fossil fuel emissions growing from the present seven gigatonnes a year to 14 gigatonnes a year by 2050. Asked if he was advocating a carbon tax, Mr Bradley replied: "I don't think we can avoid it. Exactly what form it should take... is complicated:" Prime Minister-elect Kevin Rudd, like his predecessor John Howard, favours an emissions trading scheme. Mr Rudd has pledged to start emissions trading by 2010. Mr Bradley said an emissions trading scheme was just the start to do what was needed to meet meaningful targets. He also warned against carbon offsets based on "false promises:' "Since many tree-planting ventures fail, particularly in drought-prone regions such as most of Australia, an additional cost of becoming carbon neutral would be significant premiums for drought assistance against death of trees," he said. Mr Bradley, who is also Stockland chairman, said the property group had taken three years in formulating policies to reduce its emissions levels and the audit of its carbon impact was still incomplete.
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Publication:Pacific Ecologist
Article Type:Brief article
Geographic Code:8AUST
Date:Jun 22, 2007
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