MEDIA RELEASE
Thursday, December 03, 2009
The Green Project is managed by Enact Energy Pty Ltd
1
of 2
Suite 407, 15 Lime St
Sydney NSW 2000
T: 1800 442 443
Failure on CPRS will leave Australia as polluted backwater
Australia risks being left behind in the backwater of its own smog
if it fails to progress an effective emissions trading scheme,
says Danny Morgan, Managing Director of Enact Energy one of Australia’s largest energy efficiency companies.
Enact Energy operates in the UK, Ireland, and established itself in Australia and New Zealand to capitalise on Governmental
carbon reduction schemes. During the past 12 months Enact managed the installation of energy conservation measures worth
more than $AUS70 million.
Mr Morgan said,”Various carbon accounting project mechanisms have been running in countries around the world since 2005 and
are already being traded internationally. Our current analysis suggests that the global energy efficiency industry will be worth
U$150 billion by the end of 2009.
“Enact’s participation in Australia is a testament to Australia’s potential to attract green investment and illustrates the importance
of legislated frameworks for the development of the carbon economy.
“However, if Australia does not engage in a carbon economy other countries will leap to take it’s place as investment, research
and development, and trading opportunities locate elsewhere,” Mr Morgan said.
If the US and other emerging markets such as China, India and Brazil announce their emissions trading schemes in 2010 the
financial sector predicts it will be a US$ trillion dollar market by 2015.
The World Bank has estimated that the size of the carbon market was US$11 billion in 2005, US$30 billion in 2006, and US$64
billion in 2007. Current figures show the market grew consistently from $11 billion to $126 billion from 2005 to 2008. Depending
of the detail of the CPRS the Australian market is set to reach approximately AU$15 billion by 2015.
“With more and more countries announcing their emissions targets and potential for creating their own emission trading schemes,
there is no doubt that in five years or so carbon will be a global commodity to be traded amongst the future international carbon
markets,” Mr Morgan said.
During 2007, the International Energy Agency¹ reported that world energy supply is expected to grow by 40% between 2007 and
2030, and that fossil fuels will account for 80% of energy supply. It also reported that such growth would be in line with the worst
case scenario presented by the 2007 IPCC report².
“Any way you look at it, the world’s fossil based energy resources are depleting at an ever more rapid pace and the cost of energy
is continuing to rise,” Mr Morgan said.
“Whether it is to reduce carbon emissions, reduce our growing dependence on depleting fossil fuels or simply to clean up our
polluted environment, Australia is a developed country; highly dependant on fossil fuel based energy and cannot simply stick its
head in the sand.”
With the emerging giant economies and markets of China and India such growth in energy use presents significant challenges and
opportunities for Australia in developing improved energy efficiency.
Australia is well placed through its trade ties; education and level of industrial development to capture these opportunities.
“A national CPRS is vital to encourage and foster local investment and capture the market opportunities as they emerge in these
countries.
“The global energy efficiency industry has already recognised that the problem is not going away and is geared up in preparation
for the huge increase in work. Companies like Enact Energy stand poised to assist major industry and government to respond
positively to the CPRS.
1
IEA CO2 Emissions from fuel combustion 2007 (Highlights).
2
IPCC Fourth assessment report - Climate Change 2007
MEDIA RELEASE
Thursday, December 03, 2009
The Green Project is managed by Enact Energy Pty Ltd
2
of 2
Suite 407, 15 Lime St
Sydney NSW 2000
T: 1800 442 443
“The CPRS will bring with it the certainty of legal frameworks and rules that make possible the implementation of financial and
technical systems by the sectors participating in the CPRS, such as financial, manufacturing, energy, waste etc.
“Energy efficiency and accounting for our resources in a way that reflects their true value and input into modern society, presents
an opportunity for Australia to be at the leading edge of a rapidly evolving mega industry. It is an opportunity that should not be
missed,” Mr Morgan said.
About Enact Energy and the Green Project
Enact Energy is a multi award-winning company and provider of energy efficiency services across Australia, New Zealand, the UK and Ireland.
In Australia, Enact manages the Green Project. Enact is passionate about making real changes in the way in which households consume energy
and water and has generated savings in over 350,000 households, creating a lifetime of CO² savings of over 10 million tonnes to date.
Media information: Glenn Schaube GRS Communications 0439 320151
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