Let's leave the Kyoto Protocol behind and develop a workable plan of our own

The Prime Minister should commit Australia to a renewable energy target of ten per cent by 2010, 20 per cent by 2020 and an energy efficiency target of 50 per cent by 2020. These targets are not so ambitious; many countries have similar or higher targets. With appropriate leadership and resources, they are achievable.

If the Government eliminated subsidies to aluminium smelters and other subsidised users, and committed the $250 million in annual savings to supporting the development of renewable energy and energy-efficient technologies, it would have $2.5 billion over 10 years for a renewable energy development fund. This fund would solicit proposals from around the world for research and development projects to advance renewable energy in Australia.

Companies, universities and individuals could compete for the funds. An independent panel of experts governing the fund could finance part or all of one of many different projects depending on their scale, viability and other relevant characteristics. Through this competitive process appropriate renewable energy solutions for Australia and for the world could be generated.

We believe that addressing Australia's carbon emissions and moving towards clean, renewable sources of energy should be seen as a nation-building opportunity; a chance to develop an important industry, creating hundred of jobs and positioning ourselves as the green-energy powerhouse of South-East Asia.