Productivity Commission comments on Professor Garnaut’s report
The Productivity Commission argues that when the National Emissions Trading Scheme (ETS) comes in, a number of existing greenhouse policies will no longer be justified and could prove counterproductive, including the Mandatory Renewable Energy Target.
The Commission view is that an effective ETS puts a price on carbon throughout the economy, and this will enable Australia to achieve any given emission reduction target in the most cost-effective way. It finds that policies directed at promoting R&D and overcoming barriers to the take-up of energy efficient technologies would yield further benefits if well-designed.
They are particularly concerned that continuing the Mandatory Renewable Energy Target will not achieve any additional emission reduction benefit, and will in fact increase abatement costs for the Australian community. Their point is that scheme would “provide a signal that lobbying for government support for certain technologies and industries over others could be successful”. It will not encourage any additional abatement, but still impose additional administration and monitoring costs,” the submission says.
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