Andrew Leach explains what Environment Minister Peter Kent has to sort out if we’re to meet our greenhouse gas reduction targets.
With these challenges in mind, Mr. Kent’s decisions will determine whether or not we are in a position to meet our Copenhagen commitments, and determine either the costs we incur to meet our targets or the costs we incur as a result of not meeting them. Meeting them will require the most aggressive GHG reduction efforts undertaken by any economy in the world, and the challenge gets tougher with every day we do not act. Not meeting them may limit access to markets for our exported products and access to capital for our investment projects. Inaction could also provide other nations with justification for the imposition of low carbon fuel standards or border adjustment tariffs on our products.