Avoiding runaway dangerous climate change will require a multi-trillion dollar investment in clean technology in developing countries over the coming decades. International negotiations currently underway on a post-2012 climate agreement must pave the way for this investment to occur. With much of the investment needed in the Asia-Pacific region, Australia is well positioned to play a leadership role and also benefit from the already emerging global clean technology economy.

According to the Government, helping to shape a global solution is one of three “pillars” of its Climate Change Strategy. Indeed, given Australia’s, and the region’s, high vulnerability to climate change impacts, strong international action to reduce emissions is clearly in the national interest. Much of our current prosperity is linked to development in Asia. Investments to help clean up that development and protect it from the impacts of climate change are investments in our future prosperity.

Yet the Green Paper is silent on how Australia’s Carbon Pollution Reduction Scheme will directly support this international objective.