Antinuclear

While others face climate reality, our government denies the undeniable, SMH,  John Hewson, Columnist and former Liberal opposition leader, 1 Aug 19, despair at just how long our Australian government can continue to deny the undeniable. It seems the new Morrison government has learned nothing, doesn’t want to learn anything, just wants to kick the climate emergency further down the road, hoping nothing of consequence happens on its watch.It is fundamental to us meeting our global obligations as the largest exporter of fossil fuels in the world, with poor and worsening biodiversity, and in the clear interests of our future generations, that we make the transition to a low-carbon society by the middle of this century.

It should have been particularly instructive that Britain, a nation that led the industrial revolution fuelling its economy with coal, and has weathered the Thatcher era tensions with the coal mining industry, has recently announced its plan for a complete exit from coal and declared that there is, indeed, a “climate emergency”. Similarly, the Germans have announced a commitment to stop using coal by the mid-2030s, and even the likes of China and India are moving much faster than expected to reduce their reliance on fossil fuels.

At the very least, our government should have heard and responded to the din of cries for action: from the 60 to 80 per cent of respondents to various surveys; from big business, including conspicuously large fossil fuel miners such as BHP, Rio, Glencore, and Woodside; and from the Reserve Bank of Australia, the Australian Prudential Regulation Authority, the Australian Securities and Investments Commission and the Australian Competition and Consumer Commission.

No! The tin-eared Coalition has preferred silly stunts such brandishing a lump of coal in Parliament, claiming unjustified electoral mandates to mine more coal and build a new coal-fired power plant in North Queensland, even though there is no net demand for electricity in that region (when more than 80 global banks wouldn’t finance it nor insurers insure it, and where renewable alternatives are much cheaper). It has also ignored the potential of carbon farming in agriculture and scare-mongered over the inevitable transition to electric vehicles.

While Australia dithers, others face reality. In November, the Federal Reserve Bank of San Francisco will host what is believed to be its first research conference focused on climate change, acknowledging the systemic risks to the soundness of the US banking system. In April, with global insurers shouldering $160 billion in climate-related losses from last year alone, a group that included 30 central banks – Australia’s included – called for measures to spur green finance. In May, the Bank of England issued climate risk guidance to help insurers and re-insurers assess the financial risks posed by climate threats such as heatwaves, floods and storms. ……https://www.smh.com.au/environment/climate-change/while-others-face-climate-reality-our-government-denies-the-undeniable-20190731-p52cdl.html