Australia's Julie Bishop Lauds Emissions Targets As Comparable With Other Countries

Foreign Minister Julie Bishop has lauded the emission targets of Australia because they are comparable with other countries. Her statement was taken as a suggestion that the country is not a major emitter of greenhouse gases unlike other larger industrial economies. Bishop took the more conservative approach when she addressed the UN Climate Summit in New York, according to a Guardian report.

UN Secretary-General Ban Ki-Moon had opened the summit with a declaration that climate change is the "defining challenge of our age." He called on the delegates in attendance to do their part in the international effort to develop an effective climate action plan.

U.S. President Barak Obama said time was running out to prevent the worst effects of climate change. He told delegates that they are considered the first generation to experience the impact of global warming and may be the last to take action.

Australian Prime Minister Tony Abbott had chosen not to attend the climate summit, along with the leaders of Canada, India, China, Russia, Germany and UAE, reports said. Instead of Mr Abbott, Bishop has taken his place in representing Australia. She has previously told the summit that Australia's carbon emissions target was an ambitious one. She also spoke before the delegates of the Major Economies Forum in New York and said Australia has made a serious commitment to address the growing threat of climate change.

Meanwhile, Mr Abbott continues to struggle with the pressure of making climate change part of the G20 agenda. A report from the Committee for the Economic Development of Australia (CEDA) said the upcoming G20 summit in Brisbane in November will be the perfect time for world leaders to develop reforms to rehabilitate the financial and taxation sector while climate change action plans are discussed at the same time. CEDA believes the G20 leaders will remain a great influence in developing future economic policies. Stephen Martin, chief executive of CEDA, thinks the G20 nations will continue to play a major role in shaping world economies and addressing global issues.

Martin declared that tax reforms are needed soon as some multinational corporations have grown confident in dodging taxes. Reports have surfaced that some companies create complicated arrangements to shift their profits to other locations to avoid paying taxes. With the influence of G20 leaders, the number of tax avoidance cases may be reduced.