Australia's Decarbonised Economy

Limiting emissions requires broad-based action across many sectors of the global economy. Australia’s air temperature has risen 0.9°C since 1910, illustrating the Global Warming due to the emissions of greenhouse gases. Australia has numerous initiatives that provide its population with tips on how to help the environment. Unlike many industrialized nations Australia is still heavily reliant on Non Renewable Resources such as coal. Australia and Japan have both signed the Kyoto Agreement which aims to reduce greenhouse gas emissions. Japan signed it in 2002, whereas Australia signed it in 2007. The time of which both countries signed, illustrates that Japan was more acceptable and ready for such a scheme and to do something about greenhouse gases. Japan was ranked 12th out of 176 countries in a 2013 Global Sustainable Competitiveness Index. Japan ranked 4th in Sustainable innovations which entails providing quality education, cultivating research and development, creating globally competitive products and services, and providing jobs and income for the population of a country recognised as environmentally sustainable. Although Japan has achieved this position, the country has a substantial amount of air pollution from power plant emissions which results in acid rain. The acidification of rain damages lakes and reservoirs whilst degrading water quality and threatening aquatic life.

Australia’s annual greenhouse gas emissions have historically been steadily increasing. However, in recent years this trend has stopped - the emissions rate has steadied. The Australian nation has been emitting in the range of 250,000 to 450,000 thousand metric tons greenhouse gases per year from 1990 to 2010.

The analysis pointed out Australia being one of the most carbon producing country will have to allow regulations and policies to be implemented to curb the rising carbon emission such as Carbon Taxing and Carbon Trading.

With a GDP of over $1 trillion USD, the Australian economy is among the largest in the world (Cornett and Saunders, 2014). Australia is trading partners with the United States, China, and Japan, but their economic ties are mainly centered in the Pacific Rim. Exports are crucial to the country’s GDP and this has created problems regarding sustainability in the Australian economy.

Australia’s carbon tax led to a drop in electricity sector emissions by as much as 17 million tons (9%). Many contend that the effects would have been more

Low density development and urban sprawl, together with automobile dependency are the factors contributing to global warming. Unfortunately, low density development remains the fastest growing land use in Australia. It consists of homes located on large block of lands. This paper has argued that this pattern of development is unsustainable because it requires significant amount of energy to sustain. The low-density design of Australian cities, together with the large-scale infrastructure for managing resources are key drivers to the environmental problems facing Australia and the principal reasons behind Australia’s exceptionally large per capita carbon and ecological footprints ( Rauland and Newman 2011). In order to decarbonise our cities,

At this point in time our possible solutions to the global warming are few; our technologies aren’t advanced enough to take the brunt of energy production and wean away from fossil fuel, and we have been too passive for too long regarding our CO2 emissions that’s it’s not feasible to either use cap and trade, or a flat out reduction of CO2. At our current rate of growth, energy from alternative energy sources will be around 8% of the total energy usage by 2025 (Butler 3). This is not nearly enough to be used as a feasible solution to combat our rising CO2 production, and by the time this is feasible, sever climate changes may have

In February 2011, the Australian federal government declared a scheme to implement a Carbon Tax from July 1, 2012. Implementing this scheme has generated a controversial debate between Australians. The term “Carbon tax” refers to an environmental tax forcing polluters to pay per ton of carbon which they release into the atmosphere. This essay will provide the economical, social and political implication of carbon taxes, also with its introduction who will benefit and who would suffer.

They looked at two scenarios, inaction, where business’ continue finding and using carbon as they see fit, and action, where business’ use a low-carbon energy mix. They found that not only would the investment cost of the action scenario be no more than inaction, but it would even cost a bit less- 190.2 trillion dollars for action and 192 trillion dollars for inaction. This is before even considering the amount of money saved by the effects of the action scenario itself. The report found that, “the difference in climate damage costs between low (1.5°C) warming and high (4.5°C) warming scenarios could be as high as $50 trillion” (Business Insider). The effect of such a large economic company reporting this data is the perfect example of how using economics for the sake of reversing global warming can be really beneficial. The argument often used by economists is that becoming more sustainable would hurt the economy, but the data in this report proves just the opposite, and how terrible it would be if we did nothing. For the sake of investment in industry’s like coal and gas, this information is often denied. But this is not anywhere near the first time industry’s have had to adapt due to uncontrollable events. This report emphasizes the importance of recognizing

Global warming has been a controversial topic for years and some have even denied its existence; however, as more studies are being published every day in regards to our changing climate, it is hard to ignore this growing issue and how humans contribute to it. The term greenhouse gases refers to the group of gases that are primarily responsible for global warming and chief among these gases is carbon dioxide. Rising carbon dioxide levels can be attributed to a combination of burning fossil fuels such as coal, natural gas, and petroleum as well as deforestation in general ( Source A). To slow the effects of global warming, it is important for leaders in our society to consider their greenhouse gas emissions, especially carbon dioxide, and make

The world economy is a very complex system; in the system harmful externalities disrupt capital flows and determine economic productivity. Most notable of these externalities is inadvertent global warming. Spending towards research and regulation of climate change at both the national and international level are very important in determining current and future business trends. Economists and scientists worldwide continuously debate the pros and cons of emissions reduction and what consequences can quickly follow. Though many have different views on the issue, all can agree that the immediate and long term effects of climate change have become an economic matter of paramount importance. The sweeping impact from climate change will have important fiscal, financial, and macroeconomic ramifications that influence global commerce standards.

On the same note, the energy revolution spoken of above brings forth another advance in the ongoing global climate situation. The nature of the Kyoto Protocol calls for nations to increase research and eventually semi-convert their energy usage to accommodate for cleaner energy. Products such as solar power, wind power, biomass, geothermal power, and hydropower are now widely being studying to create processes that use less coal, oil, and natural gas in production. Altogether the results have

The most of global energy production produces from fossil fuel such as coal, oil and natural gas. The vast fossil fuels generate energy which use for many purposes for instant residential, transportation and industrial sectors. While the rate consumption of fossil fuel higher than their formation leads to oil price crisis. Another concern of fossil fuel combustion is the impact on the environment. Global warming is a significant problem which results in increasing concentrations of greenhouse gas in the atmosphere. These problems drive researchers and societies to search alternative energy such as switching to renewable energy or carbon-free energy to replace fossil fuels. For example Nakata et al., (2011:465) show ‘low-carbon society’

Reduce the overall man-made carbon footprint balance generated by developed and industrialized countries. This goal can be broken down into specific quantifiable targets:

The protocol agreement suggested countries were required to reduce their greenhouse gas emissions to 5% against levels produced in 1990. A further extension was agreed to depreciate the emissions by 18% below the levels in 1990 during an eight year time period from 2013 to 2020.