The Paris Climate Agreement (the Agreement) is an international climate agreement which 195 nations have signed up to. The aim of the Agreement is to keep the increase in global temperature this century to well below 2 degrees Celsius above pre-industrial levels. To achieve this, the Agreement requires nations to reduce their greenhouse gas emissions. Under the Agreement, Australia is required to reduce its greenhouse gas emissions by 26-28 per cent of 2005 levels by 2030. There are three key reasons why Australia should exit the Agreement.
- Firstly, the economic cost of Australia meeting its emissions reduction requirement under the agreement is estimated to be $52 billion in net present value terms, over the period 2018- 2030. This equates to $8,566 per family in Australia.
- Secondly, the Agreement is not operating as intended.
- Thirdly, the Agreement will make no noticeable difference to the global temperature, even if all nations meet their national emissions reduction requirements.
The government should withdraw from the Paris Climate Agreement and end all subsidies to weather-dependant energy generation such as wind and solar.