Australian Industry Group has expressed concern over the Senate’s failure to pass the Carbon Pollution Reduction Scheme (CPRS).
The Ai Group supported the amended bill and says leaving this important policy issue unresolved will compound the uncertainty for business.
“The fate of the legislation does not diminish the importance of building bipartisan support for a national approach to emissions reduction that can form part of international action to address the threat of climate change,” Ai Group Chief Executive, Heather Ridout said.
“Inherent in Ai Group’s position is continuing support for a market-based approach to climate change as a means of reducing emissions at the lowest possible overall cost to the economy.
Departures from this principle will impose unnecessary costs on the Australian community.
According to Ridout, the industry is at risk of the further proliferation of uncoordinated and costly regulatory interventions by Federal and State Governments in the name of emissions reduction and energy efficiency.
Industry education on adapting to climate change also remains a crucial issue for Ridout.
“Although the CPRS has not been passed, given the Government’s commitment to the July 2011 start date it is even more imperative that the education effort for business starts sooner rather than later. For this reason the Climate Change Action Fund should not be put on hold even though the direction of climate policy is now uncertain.”