E&OE….
Topics: Paris climate summit
MARIUS BENSON:
Greg Hunt, there are different assessments of Paris – some are saying it's a 100 per cent result, others saying it's a zero per cent result – what number would you put on it?
GREG HUNT:
Look I think it is a very significant success for the globe.
I think it's arguably the most important global environmental agreement ever.
We have set out to achieve a series of things as a country, and that has been largely and overwhelmingly met.
In particular, all countries are now involved – that's the only way to address climate change.
So I would regard this as all up significant, important, and – as I say – arguably the most successful environmental agreement we've had yet.
MARIUS BENSON:
In practice what will it mean for Australia, say in the five years between now and the next review of performance – will Australia burn more or less fossil fuel as a result of Paris?
GREG HUNT:
Well we have already prepared for this particular outcome, so we're ahead of the curve.
We're actually very well prepared. The latest figures show that we are likely to meet and beat our 2020 targets, and to do that clearly and convincingly.
We've also set in place policies and practices out not just to 2020, but to 2030 and beyond.
MARIUS BENSON:
So we don't have to cut the burning of fossil fuel then?
GREG HUNT:
Well what we're seeing in fact is a 19 per cent reduction on the latest advice that I have in coal fired capacity from 2010 to 2022.
That's a transition which in my judgement will continue.
And what we will also see is a reduction in vehicle emissions.
We have a new set of vehicle emissions standards that we’re putting in place.
The Emissions Reductions Fund has now achieved two extraordinary successes of 47 and 45 million tonnes respectively from their auctions.
The safeguards law came into being, and was much commented upon during the course of the Paris conference.
So there's a doubling of renewable, there's a reduction in terms of the overall coal fired capacity, and unlike many countries we are meeting and beating our targets.
MARIUS BENSON:
What about exports? Will we export more or less fossil fuel in the next five years?
GREG HUNT:
Look I won't make a prediction on that, we do know that there has been a change in the international markets, and that has affected the number of projects that were proposed.
MARIUS BENSON:
So is it just up to the markets? Basically we sell as much as we can?
GREG HUNT:
Well we're not changing any Australian laws in regards to exports.
What we are seeing is that, for example, our LNG is helping to reduce emissions in other parts of the world, compared with what might otherwise have been the case.
And the critical thing here is a global agreement which sets a global cap and then individual countries have set their own caps.
And what matters is that individual countries meet their caps, and if they do that the world will meet its target.
And we're well and truly on track to meet and beat our targets.
MARIUS BENSON:
So will there be no cost to the Australian economy as a result of signing up to Paris?
GREG HUNT:
Well we had prepared for this, and so when we set out our minus 26-28 per cent target, we put in place a policy.
So of course it's not cost free, but those costs had already been factored in.
We will deal with the question of further ambition in 2020, and we'll look at the issue of international units, which have now been expressly provisioned for within the agreement.
So we are, I think, as well placed as any country in the world because we've not just done the policy work, we've met and beaten our Kyoto I targets to 2012, we're clearly going to meet our Kyoto II targets to 2020, and we've set out a range of policies which will achieve our 2030 targets.
MARIUS BENSON:
Can I ask you about the Clean Energy Finance Corporation, the decision to allow that government body, that investor, to invest in wind technology now, reversing a previous position of the Government – when was that decision taken?
GREG HUNT:
Look that was a decision which was discussed over the last two months. We have put a…
MARIUS BENSON:
Can I just check, when was the decision taken?
GREG HUNT:
Well it was a decision that was discussed and obviously created over the last two months.
MARIUS BENSON:
But not announced?
GREG HUNT:
No, the final decision was actually conveyed within the recent days, and went through the executive councils.
MARIUS BENSON:
How different is it for you being Environment Minister to Malcolm Turnbull than it was being Environment Minister with Tony Abbott?
GREG HUNT:
Look I've been fortunate to work with two very generous and very fine leaders. Obviously there are…
MARIUS BENSON:
With very different views on environmental issues.
GREG HUNT:
…obviously there are some differences but let me make this point – there is deep policy consistency in terms of the Emissions Reductions Fund, and the safeguards.
What we do see obviously is an even more enthusiastic approach to achieving the targets, and we also see that by signing up to Kyoto II there has been a very positive response to Australia.
And we have a very focused commitment to meeting and beating our targets, that's now completely established, and I feel very, very comfortable in the current situation.
MARIUS BENSON:
Greg Hunt, thank you very much.
GREG HUNT:
Thanks Marius.
(ENDS)