Professor Ross Garnaut will speak at the first of our new City Conversations, on Tuesday 21 June, to discuss the key findings and recommendations from his recently released Garnaut Climate Change Review - Update 2011.
One of Australia's most distinguished and well known economists, Professor Garnaut will talk about carbon pricing and transforming the electricity sector.
In particular, his ideas for how the revenue from putting a price on carbon could be redistributed, with more than half the revenue collected returned to households in the form of tax cuts, increases in benefit payments and energy efficiency measures.
At the City of Sydney, we are determined to reach our goal of a 70 per cent cut in greenhouse emissions by 2030, based on 2006 levels.
Our most ambitious program will transform energy supply in the city, replacing polluting, wasteful and expensive coal-fired power with renewable energy and locally produced tri-generation energy. With renewable sources, our tri-generation network will provide low-carbon power, heating and cooling to the whole city by 2030, starting with properties owned by the City.
Our tri-generation plan will be completed this year and we expect the project could exceed our target of 330 megawatts and provide a sound financial return for the system's operator.
A price on carbon - as Professor Garnaut has recommended - would further strengthen the financial viability of our tri-generation network.
Though the event is now fully subscribed, a podcast of Professor Garnaut's conversation will be available for free download from the City's website, shortly after the event.