Fighting climate change won't hurt Oz economy

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Melbourne, Dec 3 (UNI) Australia's tough pollution and carbon reduction targets to curb global warming would not affect its economic growth, a report said.

The report released today by the Climate Institute revealed that there would be little economic impact if the nation established measures to reduce greenhouse gases.

The findings suggested that economic growth would not be hampered if the ''Kangaroo Island'' reversed its pollution by 2012, reduced emissions by 20 per cent by 2020, and became carbon neutral by 2050.

The positive effects would be employment generation. Jobs would increase from 9.7 million to 16.7 million by the middle of the century, while energy prices would fall from 6 per cent of average income today to 4 per cent by 2050.

Climate Institute chief executive John Connor said drastic action was affordable.

Australia's economy is not totally dependent on energy intensive and trade exposed sectors, The Australian quoted him as saying.

''We can actually manage the transformation there and still have substantial growth across all of the sectors of agriculture, mining, telecommunications - a whole range of sectors will still have robust growth,'' he explained.

Australia would be judged on its commitment to avoiding a further two-degree increase in global warming, to a 25 to 45 per cent carbon emissions reduction for developed countries by 2020, and to a 50 per cent reduction in the world's greenhouse pollution by 2050, he said.

A recent research had provided that the Island had plenty of solar energy that could be developed as a viable alternative to fossil fuel energy.

Australia would discuss a long-term pact to fight climate change by 2009 to avert droughts, heatwaves and rising seas and a stronger push towards renewable energies such as solar power in the ongoing December 3-14 Bali summit.

UNI

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