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This project assesses the impact of carbon pricing on the cost of living using independent studies by CSIRO and AECOM. Results include a detailed report, summary materials, and the "Your Carbon Price" online tool. The carbon price incentivizes businesses to reduce carbon emissions, aiming to save 0.68 to 1.1 billion tonnes of pollution by 2020. The generated money goes towards households, businesses, and clean energy initiatives. The project also examines its inflationary impact on households, showing lower effects than past spikes and minimal cost increases in various sectors. Assistance is provided based on income levels. Consumers can save money through energy efficiency measures as suggested in the online toolkit. The carbon price drive investment in cleaner energy sources and will be paid by major polluting companies, not households. Online tools such as "Your Carbon Price" offer interactive estimates and energy efficiency insights.
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Reality Check:An assessment of how the carbon price will affect the cost of living Results from an independent study by CSIRO and AECOM
About this project • Partners: CHOICE – ACOSS – The Climate institute • Researchers: CSIRO and AECOM • Outputs: • Detailed report with results and methodology • Summary material and fact sheets • Your Carbon Price online tool
About the carbon price • Who pays? • Around 500 companies • Doesn’t come out of your pay packet and unlike the GST it won’t show on shopping dockets
About the carbon price • What’s the purpose? • Provides a financial incentive to cut carbon emissions • Will make cleaner energy sources and low carbon emissions ways of doing business cheaper by comparison
About the carbon price • How much carbon pollution will be saved? • Between 0.68 and 1.1 billion tonnes over the period 2012 to 2020
About the carbon price • Where does the money go: • Households: tax cuts and benefit payments • Businesses: free permits and technology funding • Clean energy and energy efficiency
Impact on inflation 2012 / 2013
What does it mean for households? On average $9.10 per week – 80 centsless than estimated by Treasury $2.80 wk $0.40 wk $1.20 wk $4.20 wk(clothes, recreation, etc) $0.00 wk (There will be no price impact on household fuel costs)
Past inflation spikes • Smaller than past inflation spikes • Less than half the impact of the mining boom (1.6%) • Smaller than Cyclone Larry (0.8%) • 4 times smaller than the GST(2.5%)
Assistance • Low income: generally better off • Middle income: at least 60% of costs to be covered, on average; better off in many cases. • High income: generally limited assistance
Smart Consumer Save money by investing in simple, low cost energy efficiency measures. Tip 2 Tip 1 Tip 3 Washing clothes in cold water – Save up to $2.25 per week Install water saving shower head - Save up to $5.20 per week Reduce standby power consumption – Save up to $1.75 per week 14
What does it achieve? It has the potential to cut up to 1.1 billion tonnes of pollution from the atmosphere by 2020. The carbon price will be paid by around 500 of Australia’s biggest polluting companies, not households. This is equivalent to taking 70 million cars permanently off the road Driving investment in cleaner energy sources. 15
Online tool • Where:yourcarbonprice.com.au + Facebook. • What: • Interactive • Estimate of costs and assistance • Energy efficiency opportunities
yourcarbonprice.com.au • Low income: generally better off • Middle income: at least 60% of costs to be covered, on average; better off in many cases. • High income: generally limited assistance
Tool Kit • Fact sheets • Flyers • Material for newsletters and journals • Articles, oped pieces & online banner ads etc
