Tony Zappia (Makin, Australian Labor Party) Share this | Link to this | Hansard source

The latest data shows that atmospheric carbon dioxide reached a monthly average level of 419 parts per million in May 2021, having increased from 417 parts per million in May 2020. The increase, although minimal, is deeply concerning, firstly, because it occurred over a year when global economic activity was constrained by the COVID pandemic, and, secondly, the atmospheric CO2 levels are now comparable to a period over four million years ago when global temperatures were seven degrees Fahrenheit higher than pre-industrial times.

The data shows that every year 40 billion metric tonnes of carbon dioxide are being added to the atmosphere. It's an unsustainable trajectory that is very likely to cause an average temperature increase of 1.5 degrees centigrade much sooner than previously forecast. Average temperatures are already 1.1 degrees centigrade higher than a century ago.

Simultaneously, human activity is causing irreversible destruction of global biodiversity. The earth's biosphere is being damaged at a faster rate than it can repair itself. The extraction of resources, the clearing of land and the dumping of waste back into the natural environment is causing irreparable harm. The environmental changes are very visible on land and in the air, but of great concern are the unseen changes taking place deep within the oceans and the vast ecosystems within them. Ocean acidification, warming and de-oxygenation will profoundly change marine ecosystems and ocean currents. Those ocean changes will be more difficult and take centuries to reverse.

Encouragingly the US, Europe, the UK, China and other nations are making constructive climate change commitments. Yet Australia, despite having some of the world's most renewable energy resources, is lagging behind. The Morrison government has still to commit to a net zero emissions target by 2050. The COVID pandemic has understandably been a priority with the international focus now on vaccination and post-pandemic economic recovery. However, economic stability and climate change have become inseparable. Further delays in tackling climate change will not only cause a rapid escalation of the risks but place a much greater burden on future generations.

Australia has a choice: we can invest in renewables and clean-energy jobs, or we can get left behind. According to Deloitte, unchecked climate change will cost the economy $3.4 trillion and 880,000 jobs will be lost in the decades to come. Alternatively, there will be a $680 billion dividend and 250,000 more jobs will be created. The choice is clear. It's time the Morrison government stops sidestepping climate change, accepts the science, shows some leadership and tackles the issue that particularly matters so much to young Australians, for they will wear the costs of inaction.