Climate Change (Macroeconomics Support)

Background

The rail industry needed an improved understanding of environmental, climate change and economic issues such as the use of future fuels, the possibility of further electrification, and dealing with climate change needed for rapid technological change in the rail sector.

Objective

The general aims of the project are to:

• understand the pre-conditions for a substantial modal shift and upgrading of Australian rail transport, especially in the context of high global fuel prices and a carbon price,
• estimate the economic, social and environmental benefits arising from these two changes, and to
• assess the policy options, funding models and the corporate responses required for these changes to occur.

A further aim is to investigate ongoing climate change issues pertaining to the Australian rail industry, and look at internal and external trends that are likely to impact on rail operations in Australia into the foreseeable future.

Outcomes

This project initiated a comprehensive research program on climate change that provided the rail industry with foresight on a wide variety of trends that potentially affect the industry. The project provided industry with information on climate change themes that were used to formulate informed policy positions regarding these important issues.

Benefits

The project mapped out future research directions, and provided the industry with updates regarding climate change themes that are being used to formulate informed policy positions regarding these important issues.