Jenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Hansard source

In my answer just now I stepped through the approach that the government has taken. There has been some modelling undertaken internally between the department and the Treasury. There has been a design process which has sought to provide flexibility to mitigate the cost impacts. There has been wide consultation to properly understand businesses' circumstances and the way that the proposal would interact with existing businesses covered by the mechanism. As I've indicated, there are potential costs of inaction, and they were alluded to by a former Treasurer in a government that you were part of. If I have any specific information about that I will provide that to you. But I think it is certainly the case that there is a global move towards investors making quite substantial requirements in relation to decarbonisation, and Australian businesses are not immune from that.