The great unknowns of our climate revolution
Treasury estimates Labor will spend $25 billion through the rest of this decade to decarbonise. But it’s only the start.
When it comes to working out what Australia’s carbon challenge will really cost the budget, Treasury has a fairly bleak answer: it doesn’t actually know.
The cost of managing the negative impacts of climate change, building resilience against the inevitable natural disasters caused by a warming planet, and weaning households, businesses and industries off fossil fuels and carbon-emitting technologies is what Donald Rumsfeld might once have called a “knowable unknown”.
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