Business Council of Australia president Greig Gailey will use a keynote address in Sydney today to tell consumers they should expect to pay more as business prepares to pass on higher energy costs.
He says businesses will seek to reduce their energy use but where they are exposed to extra costs, they will be passed directly on to “households, other businesses and government”.
“Efforts to force business to absorb these costs or to limit the extent to which business can pass on carbon costs will only result in less investment, fewer jobs and lower growth,” Mr Gailey says. “Where costs cannot be passed on and energy efficiencies are not available, business will simply cease to exist if this prevents them from earning an adequate return on investment.”
This will surely happen but for businesses which will start implementing carbon reduction programs from now on will have a competitive advantage to hold or reduce their prices. This is an opportunity for forward thinking businesses. Did you start talking to a “carbon consultant”?