Low Carbon Growth Plan for Australia
Low Carbon Growth Plan for Australia
The Low Carbon Growth Plan for Australia, released in March 2010 outlines a comprehensive economy-wide blueprint for how Australia can achieve an ambitious reduction in greenhouse gas emissions, whilst building a growing low-carbon economy.
The Low Carbon Growth Plan identifies 54 separate opportunities across the economy together can achieve a reduction in emissions at an annual average cost to society in 2020 equivalent to $4 per household per week.
Based on detailed economic and policy analysis, the Plan identifies the actions required to reduce emissions, the barriers to their implementation, and their relative cost in six key sectors – power, forestry, industry, buildings, agriculture and transport.
The Plan was prepared by ClimateWorks Australia in conjunction with global business consultants, McKinsey & Company. Since completing the report in March 2010, ClimateWorks has presented the findings of the Low Carbon Growth Plan report to thousands of people at a variety of conferences, events and seminars as well sharing with a larger audience via radio and television interviews and media articles. The Plan won the highly regarded Eureka Prize for Innovative Solutions to Climate Change and the Ethical Investor Award for Sustainability Research.
The Plan finds that prompt action is required to capture all 54 opportunities. Delaying action will mean some low cost opportunities are lost, ensuring greater cost to society and business in the long run.
Update to the Low Carbon Growth Plan for Australia
A year later, ClimateWorks Australia published an update to the 2010 Plan (Low Carbon Growth Plan for Australia 2011 update ). It analysed Government data showing that in the year Australia has gone backwards in its 2000 emission projections, and found that delaying action on climate change to 2015 would increase the cost to businesses and households by $5.5 billion in order to reach Australia's 5 per cent reduction in 2020. These costs are due to some opportunities being lost forever and some being harder to catch up
Energy efficiency in commercial buildings
Utilising the commercial buildings sector analysis of the Low Carbon Growth Plan for Australia, an extension report was done in conjunction with the Australian Carbon Trust. The report identifies significant carbon emission reduction opportunities and energy and cost savings achievable by making Australia's commercial buildings more energy efficient.
Retail Sector Summary Report
The Low Carbon Growth Plan research has also been drawn on for the Retail Sector Summary Report developed by ClimateWorks and the National Australia Bank, which shows potential energy efficient initiative savings worth $1 billion pa to the retail sector by 2020. Further analysis by NAB found that for 40% of the ASX 200 retail consumer sector the energy efficiency savings are equivalent to 2.1% to 5.5% growth in revenue for the retail sector. This is as much as five times historical growth rates and double current projections for the retail sector.
ClimateWorks is currently developing projects to realise the greenhouse gas emissions reduction opportunities identified in the Plan.
View media coverage on LCGP & ClimateWorks
Click here to watch a presentation on the LCGP
Download the Low Carbon Growth Plan - Impact of the carbon price package revised edition (28 pages, 1.17MB)
ClimateWorks has amended
the Impact of the carbon price package report to reflect feedback
received on the operation of the Carbon Farming Initiative (CFI)
non-Kyoto Carbon Fund.
If you would like further detail on the
modelling adjustments in the revised edition, please email us info@climateworksaustralia.org.
Download the full Low Carbon Growth Plan for Australia 2010 (164 pages, 1.9MB)
Download the summary Low Carbon Growth Plan For Australia 2010 (12 pages, 1.6MB)