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OPINION: Recently there has been a big debate about the cost of getting our nation to net zero emissions by 2050. Will it cost 1 per cent of GDP or 3 per cent of GDP? On the one hand the debate seems a little odd. Are we willing to spend 1 cent in every dollar saving the planet or 3c? Since it is the planet that allows the dollar to be created in the first place, frankly either number seems a small price to pay. Digging deeper, the difference between the two numbers depends very much on innovation. Supporting the shift to a low-emissions economy would be a good example of a “focused innovation policy”, as recommended in a recently published Productivity Commission report. ....
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