Adelaide Advertiser
Wednesday 29/10/2008 Page: 3
EMPLOYMENT in the green energy sector is set to sky-rocket, confidential Treasury modelling to be released by the Federal Government shows. The modelling, which sets out the Commonwealth Treasury's best assessments of the impact on the economy of climate change, and a planned emissions trading scheme, suggests a virtual bonanza of jobs will occur in the renewable/clean energy sector. That growth could be as high as 2900 per cent suggesting that as many as 300,000 green jobs could be created over the next 40 years.
The Advertiser has learned the spectacular growth of the alternative energy sector is predicted assuming continuation of the 20 per cent mandatory renewable energy target, and the economic incentives inherent in the emissions trading scheme. It finds the alternative energy sector is, expected to grow by 1735 per cent by 2050. That jumps out to a massive 2900 per cent growth in output once the emissions trading scheme and other green policies are factored in. The long-awaited Treasury data should strengthen the Government's commitment to stick to its timetable for introduction of the emissions trading scheme by 2010 even though the Opposition says that is too soon.
News of the modelling comes less than a week before the U.S. election where both candidates, Barack Obama, and John McCain, are promising greener policies. Democratic Party chairman Howard Dean yesterday told Sky News the economic downturn was no reason to delay cutting emissions. "The world is in trouble, our industrialised jobs are in trouble, and having a renewable energy source which would reduce the carbon footprint would be a great way of stimulating the economy," he said.
The Government plans to release the modelling soon for public consultation before settling on its carbon emissions targets in December. It is the last crucial piece in the Rudd Government's climate change puzzle ahead of that determination. Treasury believes the carbon price, will act as a strong price signal to consumers and to investors swinging the balance towards currently more expensive alternative energy sources.
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