The European Union plans to tax energy-intensive imports from countries with no carbon prices from 2023.
This will result in Australian exporters paying more to sell to the EU compared to countries with a carbon price.
The Climate Council modeled what would happen to Australia’s coal and other emissions-heavy exports from NSW and Queensland if the G7 countries, China and South Korea adopted similar carbon cap adjustment mechanisms.
It predicted more than 50,000 Queensland jobs and a $10 billion loss in gross government product.
NSW is expected to lose approximately 20,000 jobs and $5 billion in gross government product.
The Climate Council wants the federal government to reduce emissions by 75 percent this decade as it goes to net zero by 2035.
At the very least, the Climate Council insists that similar nations must commit to halving emissions by 2030 to meet their commitments.
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“The federal government must step forward and support the affected areas,” said Nicki Hutley of the group.
“The new, low-carbon economy is coming and we urgently need a transition plan for Australian communities and workers.”
Currently, the coalition’s 2030 target has a “preference” to reduce emissions by 26 to 28 percent below 2005 levels and achieve net zero emissions by 2050.
The Australian Institute’s Climate of the Nation report, also released Wednesday, showed that three-quarters of the 2626 adults surveyed are concerned about climate change.
The increase in forest fires, floods and extinctions caused by global warming worried 82 percent of the respondents.
More than 60 percent will support a tax on fossil chimney exports to help pay for climate disasters and a requirement that all new car sales be zero-emission vehicles by 2035.
While 57 percent supported the current level of subsidies to the fossil fuel industry, 57 percent of the opposition supported only 23 percent.