Garnaut Climate Change Review

[2] After the election on 24 November 2007, Prime Minister of Australia Kevin Rudd confirmed the participation of the Commonwealth Government in the Review.

Severe damage, and even destruction of the Great Barrier Reef is also a likely impact of rapid climate change.

However, the report did not recommend free permits be granted to major polluters, or that transport sector be protected by special fossil fuel subsidies or tax excise cuts.

The report also recommended that up to $1 billion should be made available for matched funding for investment in reducing emissions in coal power generation, as a form of preemptive structural adjustment assistance.

Professor Garnaut said that the overall cost to the Australian economy of tackling climate change under both the 450ppm and 550ppm scenarios was manageable and in the order of 0.1-0.2 per cent of annual economic growth to 2020.

The report was criticised by the Australian Chamber of Commerce and Industry for the economic impact that reducing greenhouse gas emissions would have.

[13] Dr Clive Hamilton was heavily critical of the report, arguing that it reduced global expectations of what should be aimed for, naively exposed Australia's negotiating tactics to the international diplomatic sphere, alienated both the Australian public and the international community, misjudged the time frames necessary to avoid dangerous climate change, recommended giving Australia numerous special deals, and would be rejected by the international community.

Australian Greens leader Bob Brown suggested that the report demonstrated that reducing greenhouse gas emissions would not come at the expense of Australia's economic growth.