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Business remains concerned about impact of carbon tax



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Media Release The Hon Greg Hunt MP Shadow Minister for Climate Action, Environment and Heritage Wednesday 7 November 2012 BUSINESS REMAINS CONCERNED ABOUT IMPACT OF CARBON TAX The majority of Australia’s major businesses view the Carbon Tax as a risk, according to the latest Carbon Disclosure Project. The figures show 74 per cent of ASX 200 companies identify the Carbon Tax as a risk to their operations. The report finds that energy efficiency is the key driver for achieving emissions reduction. The findings confirm the Coalition’s approach towards direct action by companies as the most effective way of reducing emissions, in contrast to a costly tax which puts businesses at risk. The study was done prior to the 1 July introduction of the Carbon Tax and so does not reflect the full impact of the costs on company’s balance sheets. In New Zealand, the level of concern has reduced largely as a consequence of the price which is equivalent to $1.11 Australian per tonne. This makes Australia’s $23 a tonne 20 times more expensive than the New Zealand price. Media contact: Wendy Black 0418 532 534