Australia has made some progress replacing coal with natural gas and renewables in electricity generation yet remains one of the most carbon-intensive OECD countries and one of the few where greenhouse gas emissions (excluding land use and forestry) have risen in the past decade. The country will fall short of its 2030 emissions target without a major effort to move to a low-carbon model, according to a new OECD report.
The G20 needs to go structural, social, and green! With fiscal and monetary policy room nearly exhausted, structural reforms are the best choices, sometimes the only choice. The OECD battle cry in this regard has been unchanged since 2008: “go structural!”.
Carbon taxes and emission trading systems are the most cost-effective means of reducing CO2 emissions, and should be at the centre of government efforts to tackle climate change,according to a new OECD study.