Research commissioned by The Climate Institute shows compared the implicit price tag on carbon pollution from the electricity sector in Australia and five other countries. These countries account for just under half of global emissions.
The UK figure of US$29.30 is a long way ahead of the Australian price of US$1.70 per tonne.
Erwin Jackson, Deputy CEO of the Climate Institute says the debate on whether man-made climate change is real or not is delaying Australia’s entry into a low carbon future, which places a big risk on the international competitiveness of our industries. Our power generation sector, he says, is the seventh most polluting in the world.
Could we find ourselves so dependent on polluting industries that we become irrelevant in a low carbon world?
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Oil nudges higher, bond yields bounce back ahead of FOMC meeting this week
This morning pre-FOMC positioning is the name of the game for bonds and currencies says NAB’s Ray Attrill on this morning’s Morning Call podcast. Plus, the rise of oil to two-year highs. How much further will it go?
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A very slight glimmer of hope on inflation
Bond markets have reacted to the softer than anticipated core CPI read for the US, but NAB’s Taylor Nugent says it won’t deflect the course of the Fed. Ivan Colhoun takes us through yesterday’s NAB Business Survey. Later today, two banks who might lift rates by 50 bp – the Bank of Canada (almost certainly) and the RBNZ (possibly).
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Back to uncertainty
US yields were almost entirely driven by the fall in consumer sentiment says NAB’s Tapas Strickland, reaching a pandemic low. There is a fear from some that this could push back tapering and rate rises by the Fed.
