The Chief Economist from Westpac, Dominick Stephens, has produced an interesting piece on the recent report of the climate commission. Currently the cost emitting carbon is $39 a ton. According to the climate commission, this will increase to $140 a ton by 2030 and $250 a ton by 2050. This significant increase will give emitters and foresters a strong incentive to reduce their greenhouse gas emissions. The Climate Commission estimates that taking carbon out of the economy will reduce the GDP by 1% per annum by 2050.
Watch the whole video here