Achieving a five per cent cut in carbon emissions by 2020 in unlikely due to Australia’s lack of alternative energy sources, a UQ expert has warned.
Visiting Fellow in the School of Economics Dr Colin Hunt will discuss his research on the issue at a public lecture next month.
Dr Hunt said even the modest 2020 carbon reduction targets will require all new energy, as well as over half of the energy now supplied by heavily-polluting coal, to come from non-polluting renewable sources.
“A problem is that the promising sources of base-load electricity – such as solar thermal, hot rocks and capturing and storing carbon dioxide from coal-burning power stations – are very unlikely to be ready for adoption on a meaningful scale by 2020. In fact, it is more likely to be 2040 before such new technologies are capable of widespread adoption,” Dr Hunt said.
He said the absence of these alternatives means a carbon price is likely to have only a limited effect on the energy transition in the near future.
Added to the problems of meeting targets is the Australian Government’s reliance on the purchase of international carbon offsets during the country’s low carbon transition. Since the 2009 Copenhagen climate change conference, the prospects for an international carbon market have changed dramatically due to the lack of commitment by some of the world’s largest polluters.
Dr Hunt said Australia, as a wealthy and responsible member of the global community, must do its bit to curb climate change, but unrealistic targets did not help the cause.
“Why Australia can't meet even its 5% reduction in emissions target” will take place in the Colin Clark Building, Room 105, from 12 to 2pm, on Wednesday March 30. All are welcome.
Dr Hunt’s latest research on the issue will be published in the March edition of Economic Analysis and Policy.
Media: Dr Hunt (c.hunt3@uq.edu.au) or Cameron Pegg at UQ Communications (07 3365 2049, c.pegg@uq.edu.au)
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