Joe Ludwig (Queensland, Australian Labor Party, Minister for Agriculture, Fisheries and Forestry) Share this | Hansard source

Thank you, Mr President. Again, it is an area where I do not accept what the opposition have said. The modelling has assumed $29 in 2015-16 on the basis of a world price consistent with the low end of the 2020 emissions reduction pledges made by 89 countries through the UNFCCC process.

Let us be clear about what this means. Nearly 90 countries have made 2020 pledges to reduce emissions. That was on the basis of our modelling and it is not in a vacuum. What those opposite are claiming is that we should disregard international action and we should not use the most comprehensive modelling available to us.