Are we getting our moneys worth? The cost effectiveness of Australia's domestic climate change policy

As the Sixth Conference of the Parties to the United Nations Convention on Climate Change draws near, it is opportune to examine the effectiveness of Australia's domestic climate change policy and ask ourselves, are we getting our money's worth? The answer, categorically, is no. Of the nearly $1.3 billion in funds to be made available for climate change and climate change related initiatives under the Prime Minster's Strategy - Safeguarding the Future, the National Heritage Trust and the ANTS/Measures for a Better Environment, the majority has been funnelled into expensive mitigation strategies that achieve minimal greenhouse gas reductions at maximum cost, all at the behest of selected vested interests, most notably, regional Australia, and the natural gas and agricultural industries. In contrast, less than 10% of funds will be made available to landuse management initiatives, transport planning strategies, demand side energy management measures, and education programmes which are likely to achieve the greatest and most cost-effective emission reductions.