Strong climate target could help grow The state’s economy
Tasmania’s economy could be $475 million larger, and employ 1200 additional jobs by 2050, as a result of climate policy, says
TASMANIA is a leader in addressing climate change, having achieved net zero emissions in six of the past seven years.
Since 1990, our emissions have reduced by 108.6 per cent. Over the same period, our economy has nearly doubled and over 60,000 jobs have been created. In November last year, we achieved 100 per cent selfsufficiency in renewable electricity, and we plan to double renewable energy generation by 2040 and use it to produce renewable hydrogen.
As the world increasingly seeks out low-emissions products, services and energy solutions, these are becoming Tasmania’s new competitive strengths, which can support our future economic growth and jobs. But, as our economy and population grow, and the risk of severe bushfires increases, we will need to do more to maintain our net zero emissions status and play our part in the global effort to avoid the worst impacts of climate change.
The Tasmanian government has accepted all seven recommendations of the independent review of our Climate Change Act, in full or in principle. In doing so, we have announced a bold plan to legislate a target of net zero emissions from 2030.
This will be the most ambitious emissions reduction target in Australia, and one of the most ambitious in the world.
Most importantly, modelling shows that this target can be reached not by shrinking our economy, but by growing it.
Our modelling shows that by implementing a number of the actions identified in the review to reduce emissions we can also boost productivity and drive demand for our renewable energy and products.
As a result, our economy could be $475 million larger, and create 1200 additional jobs by 2050.
Such actions include increasing the uptake of
electric vehicles powered by Tasmanian renewable energy instead of imported fuel; producing renewable hydrogen to power transport and heavy industry here and overseas; growing agroforestry; and producing more engineered timber products in place of emissions intensive building materials.
A wide range of industry bodies have told us they want to be part of the solution to climate change.
A whole-of-economy target recognises that different sectors have different opportunities to contribute to reduced emissions, and some will require more time, support and new technology than others.
That’s why our government will legislate the requirement for sector-based Emissions Reduction and Resilience Plans, developed in partnership with industry, all working to a common goal.
We will also prepare a statewide climate risk assessment and climate action plan every five years and ensure climate change is considered in the development of all relevant government policies, plans and strategies.
A draft Bill has been released on the Tasmanian Climate Change Office website for public comment and I encourage all interested Tasmanians to have their say.
Our 2030 target is one that all Tasmanians can be proud of and the Tasmanian government will continue to support our community and industry as we make the transition to a low emissions economy and the opportunities it can bring.