Will Climate Change Bring an End to the Platinum Age?

Will Climate Change Bring an End to the Platinum Age?

by Professor Ross Garnaut. Paper presented at the inaugural S.T. Lee Lecture on Asia and the Pacific, Australian National University. 29 November 2007.www.garnautreview.org.au

In this lecture, Professor Garnaut focuses on the broad theme of reconciling economic growth with effective mitigation; the links between Australian and international mitigation efforts; and some essential characteristics of market-based mitigation policies.

“Following on from Sir Nicholas Stern’s landmark review released last year, my Review will provide an Australian perspective on several issues:

the impacts of climate change on Australia, both directly, and indirectly through its effects on other countries;

the policies that are most suitable for reconciling the maintenance of rising living standards in Australia and abroad with effective mitigation, and also adaptation to the climate change
that will inevitably occur;

how Australia’s mitigation efforts can support an effective global approach to mitigation of climate change;

how we can distribute the burdens of mitigation of, and adaptation to, climate change, over time between countries and among citizens in ways that are widely recognised as being fair—for reasons of equity, and to provide a sound domestic and international political
foundation for sustained and effective policy effort over long periods;

how we can develop market-based approaches to mitigation and adaptation wherever these are likely to be effective, and how we can introduce rigour into analysis of the case for other forms of intervention when there is clear evidence of market failure; and

the appropriate locus of responsibility within the Australian Federation for various aspects of mitigation and adaptation policies.”