Page 2387 - Week 06 - Thursday, 10 May 2012
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Following considerable community discussion in November 2010, the Assembly enacted the Climate Change and Greenhouse Gas Reduction Act. Members would be familiar with the targets established in that act. These targets require an ambitious program of improving energy efficiency combined with new investments in low carbon and renewable energy infrastructure, a program that the government intends to release this year through weathering the change action plan 2.
Action plan 2 is being developed in a different context to action plan 1. We now have a national carbon price which both unlocks potential investments and requires more attention be paid to matters of policy complementarity and environmental additionality. The actions this government will set out to meet our emissions reduction targets respond to these changes: building on international experience, adopting emerging technologies and learning from the implementation of our policies to date. The development and implementation of action plan 1 provided valuable lessons for the government and the community and we will build on these experiences to ensure a continued and further achievement into the future.
The ACT also knows that while addressing climate change is of importance, it is essential that our actions are considered, cost effective and have real and measurable outcomes for the community, with these being key principles underpinning the government’s response to the issue.
An example of the government’s commitment to the principles I have just outlined is the development of the energy efficiency improvement scheme with the legislation adopted by the Assembly last week. The scheme takes advantage of the efficiency of market-based approaches to addressing climate change by requiring electricity retailers to deliver real energy savings for Canberra homes and businesses, driving the overall energy efficiency of our economy at least cost and driving down our greenhouse gas emissions.
The scheme has been developed based on learnings from schemes across Australia and internationally and is underpinned by a comprehensive and rigorous regulatory impact statement. The impact statement incorporates consultation with industry, community and environment organisations and stakeholders. The assessment includes a detailed analysis of the likely impacts of the scheme and a comprehensive analysis of the likely economic costs and benefits for the territory.
The analysis concludes that real and substantial greenhouse gas savings of over 740,000 tonnes can be achieved against our inventory as a result of the scheme, with a net economic benefit for the territory. It is important to also note that the scheme includes inbuilt review mechanisms which will address the effectiveness of the scheme as well as developments in other jurisdictions and nationally, such as the implementation of a national energy efficiency scheme.
Another activity is, of course, the government’s large-scale solar auction initiative, a practical response to the key challenge of how to stimulate investment in large-scale renewables at the lowest cost to the community. It is a practical response that is going to achieve real, on-the-ground outcomes.
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