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Monday, 19 October 2015
Page: 11565

Climate Change


Mr BUTLER (Port Adelaide) (14:53): My question is to the Prime Minister. Is the Prime Minister aware that not one company will be forced to reduce its carbon emissions under the government's new Direct Action regulations according to a new report from RepuTex?

Mr Albanese interjecting

The SPEAKER: The member for Grayndler will cease interjecting. The Minister for the Environment has the call.

Mr Albanese interjecting

The SPEAKER: Member for Grayndler: the minister has the call.




Mr HUNT (FlindersMinister for the Environment) (14:53): I am delighted to take what would be the third question now in the third year of the government from the member for Port Adelaide—had he bothered to address it to the minister. Let me deal with a number of elements. Firstly, let me deal with the Emissions Reduction Fund; secondly, let me deal with the safeguards; and, thirdly, let me deal with RepuTex.

First in the order is the Emissions Reduction Fund. This same firm made predictions that the Emissions Reduction Fund would fail to achieve any significant reductions. It was out by a factor of 500 per cent. So the RepuTex report to which you refer comes from a firm which was out by a factor of 500 per cent. I understand they had troubles when they were framing budgets, but nothing like that. And so what did we produce? We produced 47 million tonnes of emissions reduction at $13.95 a tonne. This firm, at its best, on its most generous estimates—

Mr Butler interjecting

The SPEAKER: The member for Port Adelaide has asked his question. He will cease interjecting.

Mr HUNT: has predicted less than 20 per cent of that. So that is its track record. It also predicted dramatically higher prices. It failed to, in any way, shape or form when it came to targets, get remotely close. It was out by 300 million tonnes in terms of the amount that it predicted that we would have to achieve over and above what we already have. So it is a 500 per cent failure of forecasting and a 300 million tonne error. I mean, they really picked well when they picked their sources!

Mr Butler: Mr Speaker—

Mr HUNT: Yes, go ahead.

The SPEAKER: The minister will resume his seat.

Mr Butler: Mr Speaker, I rise on a point of order on direct relevance: it is two minutes—

The SPEAKER: The member for Port Adelaide will resume his seat. There is no point of order. The minister has the call. There is no point of order.

Mr HUNT: I am dealing with, frankly, the credibility of their previous reports—two fabulously wrong predictions to date. Now, in relation to the next element: the safeguards approach which I want to put forward is very clear. It is a long-term approach. The estimates that we have already set out are that approximately 200 million tonnes of emissions reduction will occur in the period between 2020 and 2030. That was put out at the very time that we set our minus 26 to minus 28 per cent reduction. So we took a carbon tax which was failing to reduce emissions in any significant way and which was driving up—

Mr Dreyfus: Rubbish! Absolute rubbish!

The SPEAKER: The member for Isaacs is now warned.

Mr HUNT: electricity prices, and we offered Australia two things: lower electricity prices—

Mr Perrett interjecting

The SPEAKER: The member for Moreton is warned.

Mr HUNT: and lower emissions. They are for higher electricity prices, higher emissions—

Mr Thistlethwaite interjecting

The SPEAKER: The member for Kingsford Smith will cease interjecting.

Mr HUNT: and they are quoting people who have got it so badly wrong they should be utterly ashamed of themselves. Have you got any more?

The SPEAKER: The minister will resume his seat.