The federal government should clarify the share of the national 2030 and 2050 targets to be achieved by the industrial sector. [...] ∙ Federal statutory funding agencies such as the Australian Ensure the most affected regions are assisted Renewable Energy Agency (ARENA), the Clean Energy Finance Corporation (CEFC), the Northern Australia Infrastructure ∙ The NSW and Queensland governments should establish regional Facility (NAIF), Export Finance Australia (EFA), and the transition authorities for the Hunter Valley and central Q. [...] Global demand for lithium is expected to grow by up to 41 times by 2040.38 The value of both the The Port Kembla steelworks is just one example of how nickel and cobalt markets is expected to be 30 times higher than now investment decisions in the coming years will have big flow-on effects for emissions in the future. [...] But an economy-wide carbon price is politically employment and economic opportunities will be important to sustain beyond reach for now, and the market is not equipped to enact the support among the Australian people for the transition to net zero. [...] This means selecting a direction the economy Short-sighted investment decisions are particularly dangerous in the should head in and then choosing not the ‘winners’ but the ‘willing’ industrial sector because of the long-term nature of industrial assets.
Authors
- Pages
- 64
- Published in
- Australia
