Carbon laws begin their work - Economist survey Media Release

Jun 26, 2012 - 6:00am

The Climate Institute welcomes findings released today that new carbon laws have begun their work with most of firms directly impacted now having a carbon reduction strategy in place and with almost three-quarters (72 per cent) of Australian firms believing that the carbon price is here to stay.

“This survey from the respected Economist Intelligence Unit shows the carbon laws beginning their work,” said The Climate Institute CEO John Connor.

“Next week around 300 Australian companies will, for the first time, start to take greater responsibility and pay for their carbon pollution. The evidence from this report is that this is driving changes in how they do business.”

“Being made to purchase pollution permits is a clear incentive with 85 per cent of companies coming under the carbon laws now having carbon reduction strategies compared to 54 per cent of companies not directly affected.”

“It is also encouraging that nearly three quarters of business think that carbon pricing is here to stay and that business is focusing on both costs and opportunities.”

The second annual ‘Australian Low-Carbon Readiness Barometer’ from the Economist Intelligence Unit, commissioned by GE found while opportunities in “improving relationships with customers” (33 per cent) and “developing new products and services” (24 per cent) remained appealing, this year “cost reduction” rose to the top of the corporate agenda.

The survey of 136 senior executives across a broad mix of industries also found that more than half of impacted firms now have energy efficiency strategies that encompass their external partners or supply chains.

“Global companies like GE, Unilever and BHP recognise that future economies and business will be carbon constrained,” said Connor.

“Australia’s economy is too dependent on carbon pollution and these new laws are an important step in making our industries take greater responsibility for their carbon pollution.”

For more information
John Connor | CEO, The Climate Institute |  02 8239 6299
Kristina Stefanova | Communications Director, The Climate Institute |  02 8239 6299

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