During Senate Estimates today Chief Scientist Alan Finkel has once again highlighted that an Emissions Intensity Scheme (EIS) is the way to reach our commitments under the Paris Agreements:
"The commitment that we've made is for a 26 to 28 per cent reduction by 2030 of emissions on a 2005 baseline. Now you can get to that by having a system that involves a certain level of renewable generation. You can get to that by having a system that controls the emissions intensity if you know what the demand will be.
"We absolutely need to deal with the issue of ensuring the electricity sector can do its fair share in helping the nation to meet its obligations under the Paris accord,"
Prof Alan Finkel
Senate Estimates 1 June 2017
But the Minister for Energy Josh Frydenberg, isn’t relying on market mechanisms to cut pollution, he is relying on the goodwill of businesses.
“What incentive do (carbon intensive industries) have to invest in carbon capture and storage in the absence of any type of price signal on carbon or any reward in reducing their emissions?” Kristina Keneally, To The Point, 1/06/17.
“Well companies like BHP and Bluescope are good citizens,” Josh Frydenberg, To The Point, 1/06/17.
This Government has flat out rejected an EIS even before the Finkel Review is released. Even though it is endorsed by industry, the energy market, and experts as the way to deliver clear energy policy to stop the investment strike in new generation, cut pollution and transition to modern, clean energy.
Instead of proper energy policy this Government is happy to leave cutting Australia’s growing pollution levels, and securing our energy supply to the altruism of multibillion dollar businesses.