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Federal Budget 2021: Australia's green recovery failure costs jobs



Federal Budget 2021: Australia’s green recovery failure costs jobs 


THE AUSTRALIAN GOVERNMENT’S failure to fund a clean recovery from COVID-19 is a national shame and a lost opportunity to create jobs, the Climate Council said ahead of the Federal Budget. 


Data from the Global Recovery Observatory shows that Australia has spent US$130 billion on COVID recovery efforts but less than two percent of that money has been spent on solutions to reduce emissions. 


In contrast, Germany and France allocated 47% and 50% of their respective recovery spending to clean solutions. 


“Among major economies and our strategic allies, Australia is right at the bottom of the pack when it comes to spending on solutions that reduce emissions, create jobs and strengthen our economy,” said Climate Council spokesperson and economist Nicki Hutley. 


“The Federal Government continues to throw taxpayers’ money at polluting industries of the past like gas which provides very few jobs. It should be focused on creating good, clean jobs in renewables,” she said.


Pre-budget announcements include $58.6 million for gas expansion, and support for carbon capture and storage and hydrogen from fossil fuels as part of a $540 million package. 


“The consequences of Australia’s climate inaction are catching up with us, as the EU and USA contemplate carbon border adjustment taxes that could see expensive tariffs slapped on many Australian exports,” said Ms Hutley. 


The Climate Council's Clean Jobs Plan outlines how we can create 76,000 jobs in the short term while setting Australia up for the future and tackling long-term problems like climate change.


For interviews please contact Vai Shah on 0452 290 082 or Lisa Upton on 0438 972 260. 


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APPENDIX: Comparing Australia’s ‘Recovery Spending’ to the rest of the world

(Numbers from the Global Recovery Observatory)

 

Country

2030 emissions reduction target

‘Green’ recovery spending (US$)

‘Green’ recovery spending, as a % of total recovery spending

Total recovery spending (US$)

Total recovery spending, as a % of GDP

Australia

26-28% below 2005 levels

2.3bn

1.8%

129.7bn

9.3%

UK

68% below 1990

62.7bn

16.6%

377.8bn

13.4%

Germany

55% below 1990

(may be boosted to 65% today)

46.5bn

47.3%

98.3bn

2.6%

France

55% below 1990

55.0bn

50.1%

109.8bn

4%

US

50-52% below 2005

9.6bn

25.5%

37.7bn

0.2%

Canada

40-45% below 2005

10.7bn

39.5%

27.1bn

1.6%

Japan

46% below 2013

23.6bn

12.3%

192.5bn

3.8%

China

Peak emissions before 2030

51.0bn

12.2%

416.8bn

2.9%

India

33-35% reduction in emissions intensity

3.6bn

23.2%

16bn

0.54%

World

-

408.9bn

20.1%

2,037.2bn

 

 


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