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Submission to ACT inquiry into Emissions Targets


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The ACT (Australia) Legislative Assembly set up an enquiry into whether the ACT should set its own emissions targets to help in the battle to reduce green house gas concentrations. This presentation is in support of a submission.

Published in: Economy & Finance, Technology
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Submission to ACT inquiry into Emissions Targets

  1. 1. ACT Emissions Targets Submission KEVIN COX 45 years designing, building and researching information systems PhD Information systems MSc Computer Science BE Civil Engineering BSc Physics and Maths
  2. 2. ACT Emissions Targets <ul><li>Zero Net Emissions by 2020 </li></ul><ul><li>Reduced Cost of Energy </li></ul><ul><li>Encourage Sustainable Behaviour </li></ul><ul><li>Increase in wealth of ACT citizens </li></ul>
  3. 3. Richard Denniss Reducing concentrations of green house gases in the atmosphere is not an economic problem but a scientific problem.
  4. 4. How to Reduce ghg concentrations Invest in infrastructure that will reduce ghg concentrations. Allocate money for infrastructure and invest it wisely Measure the ghg concentration reductions as a result of actions Adjust investment amounts to achieve result required
  5. 5. How much investment needed for Australia <ul><li>186 Megawatts of renewable energy installed capacity by 2020 </li></ul><ul><li>30 Billion per year until 2020 (Canberra 600 million per year)‏ </li></ul><ul><li>Methods </li></ul><ul><ul><li>Reducing consumption </li></ul></ul><ul><ul><li>Generating emissions free energy </li></ul></ul><ul><ul><li>Commercial harvesting green house gases from the atmosphere </li></ul></ul>
  6. 6. How to invest wisely <ul><li>Set up a market in infrastructure to reduce ghg concentrations </li></ul><ul><li>Give individuals and businesses Energy Rewards in inverse proportion to their consumption </li></ul><ul><li>Require Rewards to be spent in the infrastructure market </li></ul>
  7. 7. Where to get the funds? <ul><li>From the sale of emissions permits, carbon tax, loans or a surcharge on Energy </li></ul><ul><li>From the future returns on Rewards Investments </li></ul>
  8. 8. Future sales <ul><li>The Reserve Bank can issue restricted Rewards with zero interest and where Rewards must be spent in the infrastructure market place. </li></ul><ul><li>When Rewards are spent suppliers of infrastructure apply to have the restrictions on Rewards removed so increasing the money supply </li></ul>
  9. 9. Emergent Properties <ul><li>Money supply increased without inflation or loans </li></ul><ul><li>Renewable Energy will cost 1 cent to produce and be sold for 6 cents </li></ul><ul><li>New wealth is distributed to the population in proportion to their demands on the environment </li></ul>
  10. 10. What can the ACT Legislative Assembly do? <ul><li>Support a community group with a request to the Reserve Bank for a zero interest loan repayable after 100 years to be used to increase the money supply via Energy Rewards </li></ul><ul><li>Or support a bank with such a request </li></ul><ul><li>Or ask for the loan itself and distribute via a community group </li></ul>
  11. 11. How quickly can it be in operation Tomorrow
  12. 12. How quickly will it have an effect As soon as it is announced
  13. 13. Summary Set a zero emissions target. Support a Community Group in its discussions with the Reserve Bank and help it organize a market place and create the infrastructure to distribute and spend Rewards