1300 HH WLTH (1300 449 584) info@hhwealth.com.au

Climate Change and Australia’s Stance

Climate change is a very popular topic in the news at the moment. I thought I would just give my two cents on the issue. More specifically in terms of what Australia is doing.

Under the Paris Climate Agreement, Australia and the world are looking to tackle rising global temperatures, so Australia actually set a target for 2030 of making a 26 to 28% reduction in its emissions compared to its 2005 levels. Reference: BBC News: Climate change: Australia pledges net zero emissions by 2050 – 26 October 2021

These goals are well criticized for being too low. And then last year, actually, the UN reported that Australia is not on track for this, the UN effectively said that there’s been no improvement in the climate policy since 2017 and emissions levels for 2030 are projected to be well above what the target is. Scott Morrison is tackling this issue currently at COP26. And its widely debated that we’re not doing enough in the area and still supporting coal power too much.

Australia ranked last!

The climate change performance index ranked Australia last out of 57 countries and responsible for more than 90% of greenhouse gas emissions on the climate policy. We are not really doing that well in the area and there’s definitely some aspects of our policy that need to be updated, “in my opinion.” The PM is facing a lot of climate anger, especially from the bushfires that we suffered, and the clear temperature rises that we’re dealing with etc.

Australia is still the world’s largest exporter of iron ore, uranium, coal and natural gas and is the fourth largest producer of coal.

Phasing out of coal is considered to be crucial to limit the global warming to 1.5 degrees a year. But obviously Australian Government is still backing the industry and facing a lot of criticism for doing so. Scott Morrison’s policy has been more around technology that doesn’t actually exist yet.

Australia’s current policy on limited emissions is on new technologies that they’re pumping money into that don’t exist, which potentially is not going to be enough to get there. “in my opinion” Scientists effectively around the world are looking aghast at the Politics of Climate Change in Australia. And we are one of the most vulnerable countries to rising temperatures. We are dealing with heat waves, bushfires, flooding, weather events etc.

Hopefully, that’s a good explanation of what’s in the news. And something that we’re obviously all dealing with and there’s a fair bit of interest at the moment.

Thanks for tuning in

If you have got a topic that you’d like me to share my thoughts on fill out the form below and I’ll give it a shot.

 Kind Regards

Chris Holme

Have you got a topic?

If you are seeking financial planning services like ethical investing, retirement planning, to wealth management in Brisbane, book your consultation with us and see how we can help grow your wealth in more ways than one.

CB Wealth Australian Pty Ltd T/As HH Wealth is a Corporate Authorised Representative (No. 1283595) of Axies Pty Ltd ABN 38 136 704 446 AFSL No 339 384. Chris Holme is an Authorised Representative (No. 1004793) of Axies Pty Ltd ABN 38 136 704 446 AFSL No 339384.

Our Financial Services Guide (FSG) and Adviser Profile contains important information about Insight Investment Services Pty. Ltd., any authorisations and the services we provide. The following link will take you to an electronic copy of the FSG, if you would prefer to receive it another way please contact our office. FSG HERE>

How Much Super Should I Have at My Age?

How Much Super Should I Have at My Age?

Do you ever dream of retirement? The day when you can finally kick up your heels and just live your best life? To make that dream come true, you need to make sure your superannuation balance is on track and will be able to provide you with enough income for...