Latest news with #AustralianChamberofCommerceandIndustry

Sky News AU
14-07-2025
- Business
- Sky News AU
Businesses heads warn overly ambitious emission reduction targets could cause economic harm as unions push for re-imposition of carbon tax
Australia's most influential business group have railed against the implementation of a 2035 emission reduction target larger than 65 per cent, stating that the move would impede economic growth and stymie manufacturing. In a letter to the Productivity Commission's five pillars inquiry, which will compile the agenda of the Albanese government's reform roundtable, the Australian Chamber of Commerce and Industry reiterated the 2035 climate targets needed to be grounded in reality. Prime Minister Anthony Albanese is reportedly weighing a 65 – 75 per cent 2035 emission reduction target, in line with Climate Change Authority advice. The government is not expected to announce Australia's 2035 climate target until at least September ahead of the COP 30 conference in Brazil in November. However, chief executive of the Australian Chamber of Commerce and Industry Andrew McKellar said the government should refrain from pursuing a 2035 emission reduction target above 65 per cent, and stated that even the 2030 target of 43 per cent was "increasingly challenging." "We will only support something that's realistic, that's affordable for the Australian economy," Mr McKellar told Sky News on Tuesday. ACCI's submission to the Productivity Commission further outlined that a 2035 federal target over 65 per cent would risk the viability of small businesses and industry". "We have got to be realistic about the contribution that we can make. There's no point driving our economy into the ground," Mr McKellar added. Mr McKellar, who's body represents over 350,000 businesses nationwide, told The Australian anything in the 65 to 75 per cent range would be 'exceedingly challenging for the Australian economy". Despite the ACCI supporting the Albanese government's 43 per cent 2030 climate target, it has consistently pushed for market-oriented solutions and lobbied for the government to create the right environment to bolster private investment. The submission added that 'were the government to set a more ambitious 2035 NDC (Nationally Determined Contribution) ACCI would be greatly concerned about the impact on the productivity, competitiveness and viability of Australian businesses, as well as the cost to the taxpayer'. Meanwhile, the Australian Council of Trade Union used their submission to the Productivity Commission ahead of the economic forum to call on the government to impose a Julia Gillard-style, economy wide carbon tax. The ACTU said a far-reaching carbon tax was one of the best measures the government could take to ensure Australia was meeting its international climate obligations and stated Ms Gillard's carbon pricing mechanism spurred economic growth while limiting emissions. The peak union body also tore into the Albanese government's safeguard mechanism, which sets limits on the emissions of high polluting facilities and said the policy was ineffective and lacked teeth. 'The Productivity Commission's investigation of means to reduce the cost of meeting carbon targets should proceed from these premises, with the goal of internalising the externalities of carbon pollution in line with the principles of carbon pricing,' the ACTU's submission read. The ACTU submission further urged the Productivity Commission to examine whether there were existing federal government fossil fuel subsidies that could be abolished. The Climate Change Authority, chaired by former NSW Liberal MP Matt Kean, has reportedly not finalised its advice to the Albanese government on the 2035 emission reduction target and is still assessing feedback from a range of groups and bodies.

AU Financial Review
17-06-2025
- Business
- AU Financial Review
CEOs refocus on bottom line amid global uncertainty
Chief executives say they are more focussed on their companies' bottom lines as economic and political uncertainty roil the business environment, but deny that non-financial targets on environment, cultural and social issues have dropped as a priority. Australian Chamber of Commerce and Industry CEO Andrew McKellar said the dropping of new governance rules for ASX-listed companies this year was an example of how the environmental, social and governance agenda was changing.
Yahoo
06-05-2025
- Business
- Yahoo
What Albanese's Win Means for Australian Businesses
Australian Prime Minister Anthony Albanese won a historic re-election on the promise of bolstering the economy, addressing the cost of living crisis, and tax cuts. Australian Chamber of Commerce and Industry CEO Andrew McKellar discusses the outlook for Australian businesses and the impact of Trump's tariff war on "Bloomberg: The Asia Trade."


Bloomberg
06-05-2025
- Business
- Bloomberg
What Albanese's Win Means for Australian Businesses
Australian Prime Minister Anthony Albanese won a historic re-election on the promise of bolstering the economy, addressing the cost of living crisis, and tax cuts. Australian Chamber of Commerce and Industry CEO Andrew McKellar discusses the outlook for Australian businesses and the impact of Trump's tariff war on "Bloomberg: The Asia Trade." (Source: Bloomberg)


Bloomberg
11-02-2025
- Business
- Bloomberg
Australia Gets Trump to Consider Tariff Exemption
Australian Prime Minister Anthony Albanese says President Donald Trump has agreed to consider an exemption for Australia from US tariffs on steel and aluminum. Australian Chamber of Commerce and Industry CEO Andrew McKellar discusses the impact of Trump's trade war on businesses, and what policies firms are seeking from Canberra ahead of a national election due in the next few months. (Source: Bloomberg)