Download our Fact Sheet to get the truth about Net Zero
While jobs risk being destroyed across Australia, net zero emissions by 2050, and the billions in taxpayer dollars which underwrite wind and solar infrastructure, will create jobs offshore.
When net zero forces the closure of 6 major coal-fired power stations by 2030, it will quadruple annual wholesale electricity prices, double retail electricity bills, and increase the typical Australian family’s annual electricity bill to $3250.
To achieve net zero emissions by 2050, the government must cancel all 89 coal, gas, and oil projects currently ready for construction across Australia. That’s $274 billion in lost economic investment, or $10,500 per Australian!
Australian forests absorb approximately 940 million tonnes of CO² each year. Add to that the CO² absorption of 2.5 million km² of continental shelf waters, and Australia sequesters some 5X as much CO² as it emits.
An analysis of net zero’s impact on global temperatures by Dr Bjorn Lomborg found that if every developed nation went to net zero today, average global temperatures would fall by just 0.5°C by the year 2100, compared to what it otherwise would have been.
Research by the IPA found that the vast majority of Australians are at best willing to incur a very small financial cost for Australia to reduce its emissions to net zero by 2050, less than $100. The true cost? $10,500 per person per year.
This means that if Australia were to completely stop every single carbon emitting activity for one whole year, the benefits would be wiped out in 16 days by China’s emissions.
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