Government Policies and Environmental Sustainability (HSC SSCE Economics): Flashcards
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Modern view: environmental protection & economic growth
Modern view: environmental protection & economic growth
Environmental protection essential for long-term economic growth
Most extreme environmental policy tool
Most extreme environmental policy tool
Ban - prohibits production, sale, or use entirely
Internalising externalities meaning
Internalising externalities meaning
Making polluters pay for environmental costs they create
Public goods definition (environmental)
Public goods definition (environmental)
Benefit society broadly but not profitable for private provision
Recent shift in environmental policy approach
Recent shift in environmental policy approach
From bans to market-based mechanisms (taxes, subsidies)
Safeguard Mechanism: number of emitters & annual cut
Safeguard Mechanism: number of emitters & annual cut
215 largest emitters must cut emissions by 4.9% yearly to 2030
Carbon credit price cap (Safeguard Mechanism)
Carbon credit price cap (Safeguard Mechanism)
75 USD/tonne, rising by inflation + 2% annually
Australia's net-zero emissions target year
Australia's net-zero emissions target year
2050
2021 State of Environment report finding
2021 State of Environment report finding
Australia's environment is poor and deteriorating
Time lag problem in environmental policy
Time lag problem in environmental policy
Problems & solutions take years/decades; delays government action