“The biggest challenge facing nation states in the 21st century is climate change” 1. What are the impacts of climate change on your chosen sector Explain the two policies (Use answer from tutorial 3 to help) 1) The former Labor Government’s Carbon Tax 2) The Direct Action Plan (Funded by the ERF) Impact of climate change polices on your chosen sector 1) What are the risks to the sector? E.g. were firms liable to pay the carbon tax? How likely is it that they will be in the future? 2) What are the opportunities? E.g. can firms profit with emissions reductions, new technologies … Outline adaptation strategies What are some adaptation strategies or other corporate strategies for the sector/firm to position itself in a carbon constrained world?

Please write in APA 7 format. Assignment is +/- 10% of the 2000-word limit (bibliography, appendix and title page are not counted in this limit). Please no plagiarism. The Direct Action Plan and the Carbon Tax are examples of two very different types of policies to address climate change. They are broadly representative of policies used by governments globally. Australia has used both types of policies allowing us to analyse the effectiveness of each policy at tackling climate change. Your goal is to compare and contrast these two policies and evaluate the likely impacts of each policy on a sector or a specific (private or public) company you will choose. In doing so, you should apply the knowledge gained in the subject, but you should not rely solely on the slides, you need to go to the primary sources. In particular, here is what you are expected to do (you can also see the concept map under week 13): 1) Discuss the rationale and the theoretical underpinnings of the Carbon Tax and the Direct Action Plan. Compare them and their expected effects. 2) Choose either a sector (i.e. industry) or a specific company (private or public). The next slide has some examples, but do NOT choose both, only focus on a sector or a company They have to be Australian due to the focus on comparing the two types of Australian climate change policies. Here are some examples: Examples of sectors: Urban water Renewable energy Non-renewable energy Food manufacturing Transport Mining Forestry Building construction Banking Local government Healthcare Horticulture Alpine tourism Examples of specific companies (corporate cases): An urban water authority A solar energy retailer An electricity retailer, a petroleum refiner, distributor, retailer A food manufacturing firm A logistics firm A mining firm A plantation firm A construction firm A commercial bank A shire or council A healthcare provider A horticultural firm/winery An Alpine ski resort 3) Carefully discussthe predicted climate change impacts of both the Carbon Tax and the Direct Action Plan in Australia on your chosen sector or company. 4) Identify various risks and opportunities for the chosen company or sector in arising from climate change. 5) Based on your own research and understanding, outline appropriate adaptation strategies and justify them. We generally talk about economic subjects adapting to climate change, so that is the primary focus. But if you can also think about some ways that your company/sector is (or can be) adapting to the two discussed policies you can write them down. 6) You are expected to draw some conclusions, policy recommendations, suggestions for improvement etc Also keep in mind that your project should not just be descriptive, it should also provide some synthesis, your own thinking, your own arguments. These are valued more (even if they are not 100% correct) than just reproducing some facts from other sources. There is no single ‘correct’ approach to structure this report; you are free to adopt the structure that suits your case and your writing style. But think carefully about the structure to be easy to read, think about the reader – whether they get what they need to understand your arguments. please ensure that if you have copied information you use quotation marks and appropriate referencing. If you reword someone else’s work you still need to refer to the author(s) in your sentence. For example, Ashman (2019) discusses how……. – whilst this is not a quote you need to reference the idea. You can choose any of the common referencing styles (e.g. Harvard), but they should be used consistently throughout your report. Do NOT reference the lectures slides, always go to the primary source and reference that. In terms of the formal requirements, the document should be double-spaced in doc or pdf format. It should have a Title page indicating the title of the project. Further resources my tutor gave us for this assignment were: The Cambridge Institute for Sustainable Business summarises the IPCC AR 5 implication for business : http://www.cisl.cam.ac.uk/business-action/low-carbon-transformation/ipcc-climate-science-business-briefings/ipcc-briefings The UNFCCC has a database of business case studies on adaption and reducing the risks of climate change: http://unfccc.int/adaptation/workstreams/nairobi_work_programme/items/6547.php The blog from the Earth Institute asks, "What are five tech companies doing about climate change?" http://blogs.ei.columbia.edu/2016/03/04/what-five-tech-companies-are-doing-about-climate-change/ On the carbon tax versus the direct action plan (ERF) here are three journal paper references Freebairn, J, (2016), "A comparison of policy instruments to reduce greenhouse gas emissions", Economic Papers, Vol 35, Issue 3, p.204-215 Burke, P.J, (2016), "Undermined by adverse selection: Australia's direct action abatement", Economic Papers, Vol 35, Issue 3, p.216-229 Clark, H., Fraser, I, and Waschik, R.G. (2014)., How much abatement will Australia's Emissions Reduction Fund buy?", Economic Papers, Vol 33, Issue 4, p.315-326Ass