The global economic meltdown is not cause to put off the start of an emissions trading scheme, Climate Change Minister Penny Wong said today.
Senator Wong said Australia had delayed taking action on climate change for long enough, and business would benefit from carbon certainty by introducing a trading scheme sooner rather than later.
"We've always said we will approach our response to climate change in an economically sustainable fashion, and we will consider very carefully the economic modelling and other economic data when determining our path forward in relation to the carbon pollution reduction scheme," Senator Wong told reporters in Melbourne.
She would not indicate whether the financial crisis warranted a softer start to an ETS, saying only that the government would make its decision on a mid-term target range for emissions cuts at the end of the year.
Australia's top climate adviser Ross Garnaut released his final report this week, urging the government to commit to a deep, fast cut in greenhouse emissions, but only if other countries do the same.
Prof Garnaut recommended Australia slash emissions by 25 per cent by 2020, providing the world forges a tough climate pact.
"I think Professor Garnaut's report has confirmed what we've been saying ... really confirmed the scale of the challenge and the government's very aware of that," Senator Wong said.
"So we'll take into account Professor Garnaut's report, the economic modelling which, as I said will be released this month, as well as our consultations with business and industry."
