Carbon trading scheme could ruin metals
THE FEDERAL Government risks ruining the metal industry and the wider economy if it does not properly formulate its climate change response, the
Business Council of Australia has warned.
According to the council, a poorly designed or rushed emissions trading scheme could slash investment, sink businesses, cut growth and result in unemployment. It urged the government against making businesses carry the higher costs of carbon emissions.
This position echoes
earlier observations by the steel industry regarding the implications of the carbon trading scheme.
Steel and aluminium are among the industries deemed most at risk under plans to put a price on carbon.
As a result of the trading scheme, around $20b of “carbon cash” will be generated. Various groups want the money to be spent on different things, but the council warns petrol will rise by 10c a litre as a result of the scheme.
Additionally, there must be a global effort to reduce carbon emissions or jobs and economic benefits, along with emissions, will simply shift overseas.
3-Jul-2008
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