“Market forces alone show coal’s days are numbered,as many investors increasingly abandon it in favour of renewables,which are now cheaper in most places,” said Mr Hart during a speech recorded for an Australian National University leadership forum.
“We fully understand the role that coal and other fossil fuels have played in Australia’s economy,even if mining accounts for a small fraction - around 2 per cent - of overall jobs.
“But it’s essential to have a broader,more honest and rational conversation about what is in Australia’s interests because the bottom line is clear.
“If the world does not rapidly phase out coal,climate change will wreak havoc right across the Australian economy:from agriculture to tourism,and right across the services sector,” he said.
Loading
Mr Hart also called on Australia to increase its 2030 greenhouse gas emissions reduction target from the current commitment of 26 to 28 per cent,saying collectively the world must reduce emissions by 45 per cent by the end of the decade if we are to hold warming to 1.5 degrees.
And he called on Australia to adopt a net zero target by 2050,noting that all Australian states and territories had already done so,as well as Australia’s island nation neighbours,along with nations representing 73 per cent of the world’s economy.