Labor commits to net-zero emissions by 2050, but 'can't tell you what it costs'

Labor's commitment to net-zero emissions by 2050 would cost the economy, but not as much as the price of inaction, experts have cautioned.

“The real point is the avoided damages if the world and Australia doesn’t move to reduce emissions … the damage is going to be severe,” he said. Some in the Labor party have previously raised concerns its climate policy cost it votes at the last federal election.“Action on climate change will mean more jobs, lower emissions and lower energy prices … we have so much to lose by not acting."The Coalition has so far resisted committing to the long-term target, instead focusing on reducing emissions by 26 to 28 per cent on 2005 levels by 2030.

“Our position is clear – we won’t set new targets without being able to look Australians in the eye and tell them how we’ll get there and how much those policies will cost.” But he said this would be insignificant compared to estimates of the cost of not reaching the target, which could amount to up to $2 trillion.

“The cost of inaction is huge – it is huge and the longer we take to transition the more costly it will get,” he told SBS News.

So what cost is that if you don't know it?

What Albo calls being bi partisan and MorriSCUM calls being sneakily clever👹💩😀⁉️

Future generations forced to pay extra for the damage boomers and the silent gen inflicted on the planet for profit. TFYH

Another nonsense headline about the same nonsense subject. Go away SBS. And take your corrupt pollys and ‘economists’ with you

ScottyfromMarketing always talks in $$$ Not interested in saving the planet.

'australianlabor proving they are full of it and lie about anything to increase public opinion'

Qldaah Time for the media to stop pretending there is any choice left. It’s act and wear the cost. Or kiss the planet goodbye and die.

So then it *wouldn't* cost but would help the economy! Stop the anti-Labor nonsense; look at the net difference. AusPol ABCMediaWatch

😂😂😂

Any economist who forecasts is a fool.

When the USA introduced legislation 2 reduce asbestos emissions during production of asbestos the pfofits of asbestos companies increased. Why bc the inputs were now in the product not floating around in the air. The move to renewables will produce a positive Benifit/Cost Ratio.

cleancoalmyarse ‘Economists’ so not SCIENTISTS’, because their input has really helped the world so far. I like money as well, know what i like more? Walking.. on dry land, eating fresh vegetables & unpolluted meat, being able to go outside without a spacesuit, stuff like that. Economist= 💩

We just fed wallabies by helicopter after one of Australia's most devastating bushfire seasons. Tell me more about costs of zero emissions?

The economic activity of the transition will create jobs.

I don’t like the headline to this article. It’s asking how long is a piece of string unseen. At the start of this summer what chance you could predict the cost of the fires? In lives, in property and infrastructure, in wildlife and the environment.

Can you please translate your tweet into English. I don’t speak or read bullsh*t.

It doesn’t matter because the earth is beyond fucked toolittletoolate

Paying attention Bullshitboy and Canavan?

The price of inaction also means millions might die from food shortages, bushfires, floods etc. That's a very high price!

Exactly. Doing nothing will cost untold damage to our economy in the medium to long term. But the govt never acknowledges that.

Bruceneeds2know What's the cost if we don't start somewhere

The EU has already threatened consequences for trading partners who shirk their responsibilities to reduce carbon pollution.

It's called investment, not cost

Comparatively how much will the economic burden be compared to the $3 billion NSW light rail excess....?

Been same blah blah for to long and this is becauce there is no plan to start a direction so these economists must have the crystal ball to project figures and also left out the consumer is the one who pays not goverment

Ah. More actual experts discussing climate change, god praising fools and carpet salesmen

Uncoated? Can politicians be that stupid. Oh wait.. it's the voters who are going to be that stupid?

So now economists a verified climate experts?

They wont give us the costings. They know if they do and people realise how much this green/left lunacy will cost ordinary people and devastate our economy, they can kiss goodbye any hopes of returning to govt. This is just a tactical move by Albo to shore up his leadership.

owgreally So in other words, it would cost less than nothing to act.

knarfnamduh LiberalAus ...read this

northway_debbie Why do I get the feeling that SBS had the chance to get an independent assessment on the policy before it was announced?

Australia is stuck in a thought bubble - it will be like 2020 here when it is 2030 everywhere else - the so called political parties have all lost an advanced vision for this country

Which economists?

rene_horton And they’ve been saying it for years and years and years.

tassiedevil These costs tonthe economy r fake! The reason there is such a catastrophic problem is because the system we live under has never paid fir the things it has taken and used. The debt of fossil fuel exploitation has paid fir society as we know it. Bubble can burst 😐

Its not hard to start the journey, start putting money into renewable energy.

Finally, an Australian political party in touch with reality. If Australia doesn’t move to this target, apart from the need to tackle our contribution to climate change, it’s products and exports will be penalised in world markets.

Labor fantasising again

So how the economists know that it will cost more than inaction when they don’t know what’s the cost of inaction is? Sounds like bingo economics!

Even if you are part of this end of days cult, anything we do makes not one iota of difference. Why is this even a conversation?

for the record, this is why centrists can eat shit.

The cost of inaction is nothing. The consequences of doing nothing is nothing

Check this out JoshFrydenberg.

Not good enough.

so much for zero by 2030...

So take that SkyNewsAust hamishNews frankelly08 and every other journo and pollie who beats AustralianLabor with it. Time to retire this BS question.

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Labor to keep net zero emissions target for 2050Labor leader Anthony Albanese is expected to stick with a target of net zero emissions by 2050, the first big commitment from the Opposition on climate policy since its shock election defeat last year. Not good enough. Zero by 2030. Labor seems determined to not getting elected. Well if he didn't clear forests and increase road grids, cities and suburbs their would be less warm air. The way forward is to green the planet. Leaves take in C02. Use coal to power desalination methods and grow trees.
Source: abcnews - 🏆 5. / 83 Read more »

Labor to announce net zero emissions target by 2050Labor will go to the next election promising to achieve a net zero emissions target by the middle of the century and to junk Kyoto carry-over credits. Loony left strikes again. Net Zero: 2030 - Amazing! 2040 - Acceptable 2050 - Inadequate If you still need any further convincing that Labor is full of unqualified, virtuesignalling morons whose entire policy base will only destroy this country, then I'm afraid you're beyond help. And also an idiot.
Source: smh - 🏆 6. / 80 Read more »

Labor locks in goal of net zero emissions by 2050, opposition to new coalLabor leader Anthony Albanese will outline his party's much-anticipated climate policy in Melbourne today, which includes a goal of net zero emissions by 2050. auspol Read the Santos Climate Report 2050? 😳 It'll be too late - we just lives, most of our bushland in 8 months, 1000's buildings & over 1 billion animals... We haven't got 30 years to play with if we don't want to lose Australia 🌏🔥
Source: SBSNews - 🏆 3. / 89 Read more »

Labor reveals 2050 net zero emissions goal - 9NewsFederal Labor leader Anthony Albanese will outline his party's climate targets in Melbourne on Friday, which includes a goal of net zero emissions by 2050. Gotta love me some emissions bruh Simple build dams hydro hello
Source: 9NewsAUS - 🏆 10. / 72 Read more »

Morrison avoiding 2050 target 'doesn't make sense': Cannon-BrookesAustralian entrepreneur Mike Cannon-Brookes says the Morrison government's avoidance of a net-zero emissions goal would fail to guide investors | p_hannam p_hannam That’s because he can afford all the day to day expenses that go with the stupid target. It’ll do bugger all for the world emissions. 1.3% wow let’s save the world!! p_hannam PM is just not listening to Canon-Brook as he is a slave of d coal miners The Nats has just had an open brawl so Scott is too terrified to make a move that might blowup party unity p_hannam YOU Want 'zero carbon emissions' Then Shut down Sydney Airport: WB UK airports must shut to reach 2050 climate target
Source: smh - 🏆 6. / 80 Read more »

Labor and Coalition state governments team up for scathing NDIS attack on Federal GovernmentTwo state governments from opposing sides of politics team up to accuse the Federal Government of short-changing people with a disability. What did you expect? Gillard set up the NDIS to fail. Why does the LNP government keeping blaming others for the catastrophes at hand when they have had the controls for the past 6 years.Every failure of gov seems to be someone else's fault.
Source: abcnews - 🏆 5. / 83 Read more »