The Australian business community risks being left behind by global competitors unless it takes advantage of opportunities to invest in clean technology, the Federal Government says.
Employment Participation Minister Senator Mark Arbib today rejected claims the nation would be penalised economically by shifting to low-carbon market.
“Let’s be clear. Transitioning to a low-carbon economy does cost,” he told a business lunch in Sydney.
“But as other countries have found, it also creates profound opportunities.
“The sooner we transform our economy to take advantage of these opportunities, the bigger the competitive advantage.”
Senator Arbib repeated his belief climate change was real and that a market-driven emissions trading scheme was the best way to tackle the issue.
“But from a business perspective, the debate about whether climate change is real is, in my mind, irrelevant and counter-productive to our country’s development,” he told the Committee for the Economic Development of Australia function.
“It’s counter-productive because the vast majority of governments and businesses around the world have moved, or are now moving, to take advantage of opportunities that arise from sustainable and clean technologies.
“And it goes without saying that Australian businesses need to be in the main game or risk being left behind.”
The government’s carbon pollution reduction scheme has twice been rejected by the Senate, frustrating plans to have an operating emissions trading market.
“Even in developing countries like China very big green changes are happening,” Senator Arbib said.
He urged business to invest in clean energy technology, warning that the costs of energy, food and water would rise quickly in the future as developed economies continued to grow.
“Devices that conserve water and reduce energy consumption have become critical to reducing business costs and are in high demand,” Senator Arbib said.
“Australia needs to keep pace with that demand for the good of the economy and our quality of life.”
