Treasury officers had little enter on the financial modelling behind the federal government’s web zero by 2050 plan

Treasury secretary Steven Kennedy has stated his division had little or no enter into the modelling underpinning the federal authorities’s plan for web zero.

Dr Kennedy advised senators on Wednesday that Treasury had supplied some technical recommendation on the dangers some buyers would possibly face in a web zero world.

He stated his division additionally seconded two employees to the Division of Trade, Science, Vitality and Assets (DISER) — one in January, the opposite in August — to assist with points of DISER’s modelling.

However that was largely it.

Dr Kennedy’s revelation comes a day after the Morrison authorities launched its plan to attain web zero emissions by 2050.

The federal government’s doc, discovered right here, stated its web zero plan was underpinned by financial modelling by DISER, and complementary  “evaluation” by personal consultancy McKinsey & Firm.

Modelling a part of ‘cabinet-in-confidence’

On Wednesday morning throughout a senate estimates listening to, Dr Kennedy stated Treasury’s enter into the modelling was minimal.

He stated Treasury supplied very “broad” recommendation on what would occur to varied threat premia if Australia did, and didn’t, be a part of the worldwide consensus on the web zero goal by 2050.

“It is that kind of broad sense of um … what are the dangers that completely different corporations would possibly face in Australia if Australia wasn’t seen to be fulsomely a part of world consensus on local weather change,” he stated.