Australia can afford to introduce tough pollution and carbon reduction targets as part of a commitment to curb global warming, a new report says.The Climate Institute today released findings which it says show there will be little economic impact if Australia establishes measures to reduce greenhouse gases.
The report, prepared by the institute, CSIRO and Monash University, found that if Australia committed to reversing its pollution by 2012, reducing emissions by 20 per cent by 2020, and becoming carbon neutral by 2050, economic growth would not be hampered.
It said under the required changes, economic growth, using GDP as a measure, would be 2.8 per cent annually to 2050, compared with 2.9 per cent if no action was taken.
Employment would increase from 9.7 million to 16.7 million jobs by the middle of the century, while energy prices would fall from six per cent of average income today to four per cent by 2050.
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