Australia's Climate Change Economics and Policy

Climate Change Economics and Policy
Name
Affiliation
Course
Professor
Date
Contents TOC \o "1-3" \h \z \u 1.0 Introduction PAGEREF _Toc52467279 \h 32.0 Predicted effects of climate change on the food manufacturing sector PAGEREF _Toc52467280 \h 43.0 Carbon Tax Act 2012, the Direct Action Plan policies, and their critiques PAGEREF _Toc52467281 \h 53.1 Carbon Tax Act of 2012 PAGEREF _Toc52467282 \h 53.2 Direct Action Plan PAGEREF _Toc52467283 \h 63.3 Critique of the Carbon Tax Act 2012 and Direct Action Plan policies PAGEREF _Toc52467284 \h 64.0 Risks and opportunities PAGEREF _Toc52467285 \h 74.1 Risks PAGEREF _Toc52467286 \h 84.2 Opportunities PAGEREF _Toc52467287 \h 95.0 Adaptive strategies PAGEREF _Toc52467288 \h 96.0 Conclusion PAGEREF _Toc52467289 \h 10Reference PAGEREF _Toc52467290 \h 11
1.0 Introduction
Climate is the general weather conditions of a place over a long period (Denchak, 2017). For example, northern Australia's climate is hot, humid during summer, warm, and dry during the winter ("Climate of the World: Australia | weatheronline.co.uk," n.d.). Climate change refers to the variation of weather conditions over time in a particular region or globally. Climate change happens over a long time of decades hence the difference in general weather variations over a short time. Several factors lead to climate change. They include volcanic activities, solar radiations reaching the earth, plate tectonic movements, and biotic processes. Human activities like industrialization, oil spills, overfishing, and deforestation, among others, also lead to climate change (Denchak, 2017). The effects of climate change are global, and it has paralyzed several economic sectors in the world. The economic sectors affected by climate change include food manufacturing, governance, agriculture, mining, forestry, banking, and tourism. Different governments have enforced policies and laws that impede climate change. Private sectors are also working together with governments all over the world to improvise ways of preventing climate.
Similarly, the Australian government formulated measures and policies to help curb the causes of climate change. The government introduced the Carbon Tax Act 2012 to help reduce greenhouse gas emissions and other agents of climate change that would affect the environment. Additionally, the government also introduced the Direct Action Plan policy to substitute the Carbon Tax Act 2012 in solely curbing the emission of greenhouse gases. This work compares the two policies the Australian government introduced while exploring the likely impacts the policies brought in the country's food manufacturing sector. The paper also explores the likely impacts of climate change in Australia's food-manufacturing sector, rationale, and the theoretical strengths of the Carbon Tax Act 2012 compared to the Direct Action Plan policy. Finally, the paper identifies different risks and opportunities in the country's food manufacturing sector and state various strategies that can be adapted for the better the sector.
2.0 Predicted effects of climate change on the food manufacturing sector
The food-manufacturing sector is crucial globally because it keeps human life alive. The sector depends on agriculture for raw ma...