The head of Australia’s largest electricity retailer said the world needs a new way to measure carbon emissions.
Origin Energy managing director Grant King also suggested Australia is doing more than other major economies when it comes to reducing its carbon footprint.
Mr King said co-ordinated international action is required that recognises the interdependency of carbon emissions with economic growth and improving living standards, especially in developing countries.
“Australia’s response should be in line with global action but should not make our industries uncompetitive, which would likely move carbon intensive activity to less efficient countries, therefore increasing global carbon emissions,” he said.
“Australia can play a role not just through setting targets for reducing emissions in Australia, but also by exporting lower emissions energy to developing countries with huge energy growth requirements and currently very high emissions intensity economies.”
Acknowleding there are clear roles for renewable energy, natural gas and new technologies – such as battery storage, smart metering and smart electricity grid management – Mr King said it would be a challenge to move from coal-fired power generation to gas and renewable generation.
Commenting on a report released by Deloitte Access Economics, Mr King said how industry measures and seeks to improve carbon efficiency would be critical to climate change action and ongoing global growth, including improving living standards in developing countries.