OLD PAGES > CSIRO climate change report timely reminder - 2 Oct

Illawarra Business Chamber said the release of the CSIRO Report “Climate Change in Australia” was a confronting document for Illawarra businesses.

The Report projected temperature increases, rainfall decreases and rising sea levels which will impact every part of the regional economy.

“If the projections of the CSIRO hold, then climate change will result in the most significant structural change to the Australian economy over the coming fifty years”, said Mark Grimson, CEO of Illawarra Business Chamber.

“As the Stern Report identified, strong action to reduce emissions must be viewed as an investment, as a cost incurred now to avoid the risks of severe consequences in the future.

“Illawarra Business Chamber argued in the release of Fixing the Federation that Australia needs an integral policy framework from all levels of government to deal with these changes. Central to this is leadership from the Federal Government in developing the policy framework needed to deal with climate change.

“Managing the structural adjustments needed in our economy will be a major challenge for Australian Governments.

“Responding to climate change is not only a challenge for governments when it comes to preparing policy; it’s a challenge and responsibility for all businesses and individuals throughout Australia.

Mr Grimson also warned governments and climate change activists that there is a difference between the science of climate change and the practicalities of how climate change will impact business.

“Illawarra businesses are already facing increased costs from green tape, higher electricity charges, increased customer expectations and changes to supply chain procurement requirements. An emissions trading scheme will further increase these costs through a price on carbon.

“Our concern is that the emerging “green tape” across all levels of business is un-coordinated and ad hoc and could stifle growth and innovation. NSW Business Chamber released a report last month that outlined how “green tape” had emerged over the past 20 years through environmental legislation.

“The CSIRO Report is a reminder that the challenge facing us is so severe that the key to dealing with climate change will be innovation. “Innovation will solve the climate change challenge and business has a big role to play in using its capital, willingness to take risks and creative ideas to fix problems such as water shortages, increased heat strain on buildings, costal erosion or dependence on fossil fuels.

“Climate change is both a challenge and opportunity for business in the Illawarra. Creating an environment that encourages innovation and investment will be critical if Australian businesses are to lead the way in developing technological solutions to the climate changes we face.