Is climate action too expensive?

September 10, 2025

A recent Lowy Institute poll shows 51% support to address the “serious and pressing problem” of global warming, even if it involves “significant cost”. However, this slim majority has dropped six points since last year.

One-third says the harmful effects will be gradual and we should take steps that are “low in cost”. The case for spending large amounts of money has not been well argued. Higher energy prices are repeatedly and falsely blamed on renewables; China’s emissions are raised as a reason for Australia to do next-to-nothing; and a movement (seemingly orchestrated by far-right interests) is growing in the regions where renewable infrastructure is needed.

The National Climate Risk Assessment, Labor’s 2035 target or the Pacific Islands‘ plight – none of these will see Australians demand the necessary steps, unless the economic case is made alongside the environmental one.

The IEA predicts worldwide demand for fossil fuels will drop to just 20% by 2050. More than two-thirds of our coal and gas revenue comes from Japan, China and South Korea; all are accelerating clean energy investment. As researcher Thom Woodruff puts it, “we risk driving off an economic cliff of our own making” if we fail.