[Greens-Media] Costa's own figures show Garnaut is a bargain

[John Kaye]

Costa's own figures show Garnaut is a bargain
 
Media Release: 4 April 2008
 
NSW Treasurer Michael Costa's predicted impacts of reducing CO2 emissions on the national economy would be very small compared to the costs of doing nothing, according to Greens MP John Kaye.
 
Dr Kaye said: "NSW Treasurer Michael Costa has scored an own goal with his attack on the Garnaut Review.
 
"There is no reason to trust his figures. He is a well-known climate sceptic. He has refused to release the assumptions behind his claimed costs of reducing emissions.
 
"Yet even his claim that cutting CO2 emissions by 80% will reduce GDP by 4% by 2030 would represent great value.
 
"The economy would still grow  by 88% over the next 22 years, rather than the forecast 92%.
 
"The time it would take for the economy to double would be just over one year longer than with 'business as usual'.
 
"The alternative is climate chaos, with massive social, economic and environmental effects, none of which appears to have been factored into the Treasurer's cost estimate.
 
"A one year delay in doubling the economy in order to avoid climate change would be a good investment in reducing the risk of devastating consequences.
 
"Treasurer Costa does not  accept the scientific consensus on climate change. He should butt out of the debate until he finds something intelligent to say on the topic.
 
"He is desperate to get his privatisation deal through. He knows that won't happen if Australia creates an emissions trading scheme worth the name," Dr Kaye said.
 

For more information: John Kaye 0407 195 455 
 
 
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John Kaye
Greens member of the NSW Parliament
phone: (02) 9230 2668
fax: (02) 9230 2586
mobile: 0407 195 455
email: john.kaye at parliament.nsw.gov.au
web: www.johnkaye.org.au
 
mail: Parliament House, Macquarie St, Sydney NSW 2000