ICAN Home Forums 2. Managed cessation of the fossil fuel industry Suggested preamble and policies.

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  • Paul Wittwer
    Post count: 2

    Science tells us that we cannot mine all of the existing fossil fuel reserves. Burning this fuel would release CO2 which will lead to irreversible climate change. The fossil fuel industry needs to be phased out in a managed way to guarantee energy supply and employment in regional communities supported by the fossil fuel industry. Approving new exploration licences or new mines will threaten existing jobs and the economic viability of existing mines. New mines will also exacerbate the economic turmoil created in financial markets caused by stranded assets (fossil fuel reserves that appear on company balance sheets yet cannot be mined).

    Policies include:
    1. No new fossil fuel mines including stopping Adani.
    2. Stop tax deductions for fossil fuel use and exploration and remove export grants. (https://www.marketforces.org.au/campaigns/ffs/tax-based-subsidies/)
    3. Fund retraining and relocation for affected workforces.
    4. Fund economic development in affected communities.

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