Assessment Task Due Date % SILOs Assessed Final Project – no more than 2000 words 7 June XXXXXXXXXXSILO 1, 2, 3 & 4 Submission Details Submit via Turnitin (LMS Drop) Box Grading Criteria and Feedback...

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Title of the project: Impact of climate change policy on Mining Sector of Australia
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I. Australia’s climate change policy: an overview
Like other countries, Australia has implemented a wide range of measures over the years aiming to reduce the greenhouse gas emissions. Ince late 1980s, Climate change policies has introduced at all levels of governments. Carbon tax was introduced by former Gillard government in 2012 but after a long political debate carbon tax was repealed by Tony Abbott government in the year 2014. Abbott government has repealed the carbon tax and replaced with Direct Action Plan to address the climate change issue. The government has abolished the carbon tax with the view that it would reduce the input cost and the lower cost will flow from business to consumers in terms of low energy cost and cheaper household items. Carbon tax, that put a price on greenhouse gas emissions, was introduced to penalize the large emitters of Australia. But Abbott government strongly advocated that carbon tax is destructed many jobs and raise the cost of living for Australian families but did not actually help the environment. Australia is the developed nation that makes such a U turn in climate change policy.
II. Objective of the study:
The key aim of this paper is to analyse the effects of climate change on Australia’s mining sector. The study examines how mining sector of Australia has been affected by repealing the carbon tax and introduction of Direct Action Plan. The current study further gains a deep insight on the risks as well as the opportunities for the mining sector under the new climate change policy.
III. Carbon tax vs Direct Action Plan:
Carbon tax policy or carbon pricing mechanism has come into force on July 1, 2012. It was first fixed at the price of AUD$23 per tonne, the permits could be bought from the government at this price. This climate change policy, known as “A Clean Energy Future” was introduced in 2011 with the objective to promote the investment on renewable energy, create vast opportunities for Australia’s agricultural sector. encourage an overall energy efficiency. Following a change in the government, Carbon tax was repealed on July 17, 2014. New government has come up with new policy, Direct Action Plan which is intended to meet the target of 5% reduction by the year 2020. Direct action plan is a climate change policy aiming to reduce the carbon emission and improve the environment based on direct action. New government has launched Emission Reduction Fund (ERF), the key tool to achieve the 2020 carbon emission target. ERF is comprised of three primary elements: crediting, purchasing and safeguarding emission reductions. Safe guard mechanism limits the green- house gas emissions baseline for the large facilities with emissions over 100,000t CO2 per year. Australian government has also commenced a range of measures that would intend to reduce the emission in post 2020 period. (IETA, 2016 )
The business sectors across Australia has shown a mixed reaction in its new climate change policy as a move towards Direct Action plan rom carbon tax. Some of the crucial sectors like mining has wholeheartedly welcome the move while for some others reactions are found to be negative. According to Kate Carnel, CEO of Australian Chamber of Commerce and Industry stated tat carbon tax was nothing but a deadweight to the economy and abolishing the tax is a win for the consumers, business and also win for the energy users.
IV. Predicted climate change impacts on mining sector:
Climate change is a serious global threat- the potential impacts are very much different than other environmental problems. Climate change affects all the industries in varying magnitude and mining sector is of no exception. Climate change is unlikely to have a major direct impact because for mining regulations and managements strategies are already in place. Lack of water may have some potential impact on some mining projects but most mining projects do not need the potable water. In some mines, they have already installed desalination units as they need high quality water. Some...