Liberal senator Andrew McLachlan has criticised the Coalition's climate policy announcements, saying they abandon the Liberal traditions and values that have long sustained the party's success. Writing in an opinion piece, McLachlan accused the Coalition of repudiating its longstanding policy positions on climate, even disowning structures it created while in government.
McLachlan described the approach as not from the conservative tradition but closer to the radical, arguing that conservation has long been part of the right in Australian politics. He said the tradition has now been replaced with a deep dislike, even hate in some quarters, of all things considered environmental.
Planned policy changes
The Coalition wants to remove net zero targets from Australian law, abolish the Net Zero Economy Agency, reform the Australian Renewable Energy Agency and the Clean Energy Finance Corporation, and remove the electric vehicle tax concession, battery rebates and Scope 3 emission reporting requirements. It also intends to cancel the annual Climate Change Statement to Parliament and remove the statutory mandate of the Climate Change Authority to advise on future targets.
McLachlan noted that many of these measures will have to navigate the Senate, where the Coalition is unlikely to find much support depending on the Senate's disposition.
Economic and regional concerns
The senator warned that international capital looks for the best returns on investment, and radical measures floated by mainstream political parties heighten sovereign risk. He said fund managers seeking to invest for the long term will hesitate, uncertain of the direction of Australia's decarbonisation journey.
McLachlan also highlighted economic benefits in the green industrial transformation, citing South Korea's investment of 1,000 trillion won (A$1.1 trillion) into its transition and China exporting up to US$30 billion per month of clean technology, up 100% year on year.
Pacific leadership and trade
The senator said Pacific nations are looking to Australia for leadership, and the impact of climate change is existential for these island states. He argued that if the Coalition approach is adopted, Australia will not be a credible nation in its own region, allowing other actors to increase their influence.
McLachlan also warned against preventing the EU trade agreement from coming into force, noting the deal is especially good for Australian exporters yet is being criticised by the Coalition for mentioning the Paris agreement, which Australia is already a signatory to.
He concluded that the Coalition plan suggests that to seek prosperity you must abandon the journey to net zero, and that blaming net zero for every national woe undermines the Coalition's reputation as serious economic managers.
