The Victorian Chamber of Commerce and Industry supports action on climate change and urges all parties and governments to join business in a bipartisan effort to decarbonise the Australian economy.
A global transition towards lower emissions is necessary and the Victorian Chamber acknowledges that this transition will benefit business and Australians. Conversely, no action will leave Australian business exposed and will lead to harmful impacts on all Australians.
Australia needs to lock-in durable national frameworks for energy and climate policy, the lack of which is a serious barrier to much needed new investment that can help bring down emissions and energy prices. Reliable and affordable energy is a necessary precondition of Australia’s prosperity.
The Victorian Chamber:
- in line with the science, supports Australia’s commitments set out in the Paris Agreement and a long-term goal to achieve net zero emissions, consistent with holding the increase in the global average temperature to well below 2°C above pre-industrial levels, and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels
- calls on the Commonwealth, State, Territory and Local governments to work with business to adopt bipartisan policies and measures that set Australia’s decarbonisation efforts on a pathway to achieving net zero emissions, consistent with principles of fair share, risk management, least cost abatement, equity and policy stability
- calls on the Commonwealth, State, Territory and Local governments to ensure a just transition and that the international competitiveness of local businesses and jobs is not compromised
- does not support policies and measures that risk the competitiveness of local businesses and jobs by, for instance, taking on a disproportionate share of the global or national emissions reduction effort
- calls on the Commonwealth, State, Territory and Local governments to take advantage of economic opportunities by prioritising local content and local jobs in achieving decarbonisation commitments, including through innovation and industry development (consistent with international agreements)
- supports the use of robust market-based mechanisms and offsets, where it can be demonstrated that offsets are in the long-term benefit of local businesses and jobs.
A succession of rapidly reversed policies or no policy at all, will result in further damage to Australia’s and Victoria’s reputation and competitiveness.
Private sector innovation, investment and expertise will be vital if we are to successfully tackle climate change and promote sustainable and inclusive growth.