Peak business group supports Garnaut's carbon tax price

A group of national business leaders has called on the federal government to move swiftly towards a carbon price of between $20 and $30 per tonne in order to create a solid incentive to drive innovation.

The National Business Leaders Forum on Sustainable Development, the peak Australian business forum comprising CEOs from some of the country’s leading corporations, is supporting economist Ross Garnaut‘s recommendation of an initial carbon price which will create a business incentive.

“The NBLF first called for a carbon price back in 2005,” said Convenor of the Forum Molly Harriss Olson, the former head of the Clinton White House Office on Sustainability.

“We want to see a price on carbon which meets the international benchmark and paves the way for an emissions trading scheme in Australia. It is the only mechanism which will encourage our industries to invest in alternative energy sources,” she said.

The NBLF’s call for a carbon price recognises that the initial price needs to be significant to effect real change in energy production. While adding to the voices of the Business Council of Australia and Australian Industry Group, the NBLF has drawn a distinction on the level of the initial price.

Among those calling for a price on carbon are the Forum’s Chair, Rod Leaver, CEO-Asia, Lend Lease, and Michael Costello, CEO, ActewAGL, as well as the former Liberal Leader John Hewson, who spoke out earlier in the week in support of the tax.

“As nations around the world like the UK are committing to stronger climate change targets, Australia needs to step up and play a significant role in preparing for the reality of a carbon-constrained future,” Harriss Olson said.

“Significant technological advances and scaling up of production of eco-innovation will continue to bring down the costs of action on a transition to the green economy and Australia needs to be part of this new reality,” she said.

The 12th National Business Leaders Forum will be held at Parliament House in Canberra from 16-17 June. Guest speakers include: Kishor Chaukar, Managing Director of TATA Industries, one of India’s leading companies; Simon Upton, OECD Environment Director; Ernst Ligteringen, Chief Executive, Global Reporting Initiative; Harriet Lamb, Executive Director, Fairtrade Foundation, UK; and David Nieh, General Manager, Shui on Land for Knowledge, China. They will join with the Hon Julia Gillard Prime Minister; Tim Flannery, Chair Australian Climate Commission; David Grollo, CEO, Grocon; and Rod Leaver, CEO-Asia, Lend Lease, among other leaders at the Forum. View the full program at www.nblf.com.au.