The Australian Government has failed to recognise the costs of climate change, and similarly, the significant economic opportunities in acting swiftly and early on climate change. In contrast, carbon border tariffs are now inevitable with Australia in the firing line due to our slow and weak national progress in cutting greenhouse gas emissions. The question isn’t whether we should act on climate change, but rather, when will we choose to do so? Every day we delay, we pay a heavier price.

This report looks at the economic impact that carbon border tariffs could have on Australia’s economy if we do not take appropriate measures to act on climate change now in line with our key trading allies.

Key findings:

• The world is moving to respond to the climate crisis with carbon border tariffs now inevitable. Australians will pay a price due to our slow and weak national progress in cutting greenhouse gas emissions.
• Economic modelling shows that carbon border tariffs will reduce demand for Australian exports, lower economic growth and put thousands of Australian jobs at risk.
• Every day that the Australian Government delays climate action it is hurting households and businesses in missed economic opportunities and rising costs.