A piece in Australia's national newspaper today flags a risk ahead for Australia's exports.
Says Australia is the world's third-largest carbon emitter per capita, behind Saudi Arabia and Kazakhstan
- world leaders will meet in November in the UK to assess how far countries have gone in meeting climate goals
- Australia also faces being penalised by other countries for not doing enough ... "If we lag behind and don't take a vigorous emission reduction plan to Glasgow, the EU and other countries may slap tariffs on our exports as being carbon-intensive, so we face a big risk"
Here is the link to the article (may be gated)
---
Regardless of what you think of climate change (a culture war divisive issue) it appears Australia is out of step with the rest of the world and may face an economic penalty. Something to eye on approach to November.
I can think of at least one trade partner counterparty itching for another reason to slap on tariffs ....
