SYDNEY: The Australian economy could be boosted by as much as $680 million if it chooses to move to a low-emissions structure, according to a new Deloitte Access Economic report.
But many current Australians are unlikely to see that result, even if our governments choose to go the low-emission route – and so far they have shown little enthusiasm.
Deloitte says it would take until the 2070s to achieve the full $680 million boost. But if we don’t go the low-emissions route, Detroit estimates climate change could see a cool $3.4 trillion stripped from the Australian economy.
This would be accompanied by job losses totalling 800,000, the company estimates.
Worst affected industry would be mining, manufacturing, services, and trade and tourism.
Deloitte predicts Australian mining industries taking a $350 billion hit, manufacturing down $330 billion, trade and tourism losing $500 billion, and services losing $1.6 trillion.
To avoid all this Deloitte recommends Australia moving to a low-emission structure right across the economy.
