00:00Obviously, we're looking at it very closely. For us, this is an important policy. Business
00:12does need certainty. If we're going to get the investment in place for the future, then
00:17we need to understand what is the policy, what's the pathway as we go towards the middle
00:22of the century. Are we still complying with the Paris Agreement? And then what's the strategy
00:28on electricity, on energy? And look, I think what we've seen to date raises a number of
00:34questions. So clearly, on the one hand, the Coalition is saying that it remains committed
00:40to the Paris Agreement. But on the other hand, it seems to be casting very significant doubt
00:46on a number of the elements that are required if you're going to comply with that agreement
00:51in terms of the targets, you know, 2030, 2035 and beyond, and out to the second half of
00:58the century. So, you know, I think that's an important level of detail about what does it
01:03mean for Australia's position in relation to emissions abatement. And equally, on energy,
01:08there are significant questions about, you say you're prioritising affordability and cheaper
01:15power prices. But what is the plan to get there? So what would you say or where would certainty
01:21be at at this point for the business community? Well, I think, as I say, the business community
01:26does have significant questions. And in relation to the way forward on energy, you know, clearly,
01:35energy costs have been a huge issue for many businesses. You know, over the past five years,
01:39we've seen wholesale prices increasing in certainly the eastern states by around 200%. That's making
01:47life very difficult in a range of areas. So we need a plan that addresses affordability.
01:54And look, the government's plan is not perfect in that regard. They've put all of their eggs
01:58into one basket. We have questions about that. We do need to prioritise exploration and production
02:06of gas as a key part of the alternative. From a business point of view, we have articulated
02:13a technology neutral approach. But here, I think, you know, there are important questions.
02:17So, you know, if it's not going to be renewables, then what are the other options? And, you know,
02:23we would say renewables do have to be an important, a huge part of the solution going forward.
02:29But we need to know what else is on the table. You know, does it mean extending the life of
02:33existing coal-fired generation? Does it mean opening up the door to new coal-fired generation?
02:40Are there any other alternatives? And I think that's, you know, that needs to be very clear.
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