My 2 cents worth won't go too much into forestry management as I'm not well positioned to talk about it, but the 1 thing that I would say, is I understand what some are saying about the federal government, ie. that they aren't at fault for mismanaged forestry management as it is state responsibility, however against that its hard to believe that 3 different states have made the exact same mistakes in forestry management and there not to have been some sort of federal direction on this.
Now Scomo, for mine, his response since he was caught on holiday has been pretty poor IMO. Consistently poor choice of words, forced handshakes etc just really are a poor reflection on him. His actual response to the states has been ok, but overall leadership needs some work.
There seems to be a few on here making this political, around both the bushfires and CC. Lets not repaint the past, the labor CC manifesto at the last election whilst marginally better than the libs was hardly good, plenty of lip service and policies largely around carbon offsets rather than actually doing something.
I don't really have any specific political affiliation, I'm pretty much down the middle and I don't get the constant references by the libs around CC stating the coal industry generates so much GDP etc, thats fine but who said they were mutually exclusive. Like it or not, coal will be part of our future for a significant period of time, as will oil. What we can do though, is be leaders in developing new technology around energy generation, rolling it out and growing the circular economy within Australia.
2 areas that I think make the most sense to hit quickly are solar power for businesses and plastic recycling.
Solar panel, now I know I will get a response from Gia here as I will talk about subsidies but there is a lot more to it rather than just subsidies means that it doesn't make economic sense. There is so much available real estate on the top of business premises all around the country that is doing nothing. I'm involved in finance via business and having done investment analysis on this I'm fairly well placed to make comment. As a stand alone investment, there won't be a surge in business investment in solar for a couple of reasons, payback period is currently too high for what in most cases are leased premises (average lease terms will be somewhere around 5-10 years, and payback around 6 years) so there is little to incentivise businesses to do this, however from a federal level, a long term power generation strategy needs review as as it stands we have significant generation from coal plants which have finite lives, over the next 10-15 years there are a fair amount of coal plants that will require to be decommissioned and will need to replaced with something. I would anticipate some sort of subsidisation to encourage business investment in solar makes a lot of economic sense, as opposed to taking significantly more debt in order to invest in new power plants. The issue Gia has is the subsidy, but the issue isn't that solar is not a good economic investment, the issue is whether its a good enough investment to encourage businesses to prioritise the capex. As anyone who has worked in business knows, capex is usually limited and therefore highest payback / highest ROI projects are focused on with particular focus being on your core business investment. There are 2 different timescales here, the federal government (which should be a long term (ie. 25 year) timeline compared to businesses (5-10) causing much of the issue hence the requirement for subsidisation. Personally I much prefer rooftop solar compared to largescale solar plants.
The other area I'm big in is the circular economy. I posted on here months ago about a company that I invest in (IGE on the ASX) who are a start up that are developing facilities to turn end of use plastics back into road / sea ready fuels. These are an Australian firm, the modules are produced in Australia but due to large grants coming from overseas (grants in this instance are to encourage investment rather than impact the economics of the plants) development of these plants has been focused outside of Australia (projects curreny in the Netherlands, US, UK and Indonesia initially). Its an important industry for me for Australia, due to our reliance on the trucking industry. We cannot operate Australia sufficiently without the trucking industry so it makes sense to me to reduce the environmental impact as there is no current option to change this industry in other ways. It would make a lot of sense to me to build a new industry around the circular economy and generate new jobs that way. Plants can be built anyway within Australia to deal with our own waste, but why not also look at importing waste from other countries. As the coal industry depletes over the next 10-20 years, spare port capacity will likely come available from deepwater ports like Gladstone / Newcastle etc where plants could be built, they could convert the plastic back into sea ready fuels for fueling the ships that use the port.
Interested to hear others thoughts, there will be a lot more that can be done but these are just 2 areas that I feel strongly about and both IMO will generate GDP growth and jobs whilst also having positive impacts on the environment, as I said the environment and economy do not have to be mutually exclusive.