Australian Business Climate Survey - Carbon Market Institute

CMI’s annual business sentiment survey

The CMI Australian Business Climate Survey surveys attitudes of Australian business and industry annually to gauge views on international and domestic policy, carbon markets and pricing, and corporate climate risk, disclosure and strategy.

Now in its 9th year, the Australian Business Climate Survey provides the latest insights into Australian business leaders’ views toward climate policy, as well as the actions of the business community in leading the transition to net zero and beyond.

The 2022 edition

The 2022 Australian Climate Policy Survey was published on Wednesday 19th October, 2022.

To reflect what has been a transformational year in climate policy and business action domestically and globally, several new questions have been added to the Survey in 2022. These delve deeper into Australia’s climate ambition, perspectives on key reforms including the Safeguard Mechanism and ACCU Review, the impact and opportunities associated with Article 6 of the Paris Agreement, as well as the actions of the business community in leading the transition to net zero and beyond.

The survey was conducted electronically over a three-week period. It was sent to a wide database of senior executives and employees working for businesses with large emissions profiles, investors, carbon project developers, carbon market experts and professional service providers. We thank all respondents for participating.

Survey data reflects a broad market perspective and should not be attributed to the position of any single individual or organisation. 262 individuals filled in the survey, 60% of which were Senior Executives, C-Suite or Board members. 48% were CMI Members.

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2022 survey report

Previous survey reports

CMI’s 2021 Australian Climate Policy Survey reveals the starkest changes in data, when comparing year-on-year results, relate to future predictions of a higher 2030 carbon price, an increase in the number of companies factoring in a carbon price, and growing recognition in organisations at board and executive management levels of the material financial and strategic risks posed by climate change.

Results show that the vast majority of business respondents support net zero emissions by 2050 and stronger 2030 targets.

With most of Australia’s key trading partners already committed to net zero, and to 2030 cuts twice to three times as deep as Australia’s, concern about carbon border tariff adjustments is growing.

2021 Survey

CMI’s 2020 Australian Climate Policy Survey reveals business sentiment is growing for Australia to set a nationwide net-zero emissions target by 2050. 88% of respondents believe Australia’s long-term strategy should include a target of net-zero emissions by 2050, in 2019 this was 83%.

There was a significant surge in concern about carbon border tariff adjustments from trading partners for Australia’s emissions intensive economy and exports, in 2019 this was at 70%, in 2020 this has jumped to 79%. Opposition to the use of the internationally and domestically controversial Kyoto carryover units also rose to 79%, from 76% in 2019.

Over three quarters, 76%, of respondents believe the Australian Government is not sufficiently integrating climate goals in its COVID recovery plans.

2020 Survey

The Carbon Market Institute’s 2019 Australian Climate Policy Survey reveals widespread concern about the adequacy of current policy, with 94% of respondents indicating that Australia’s current policy suite is insufficient to support reductions to meet our initial 2030 Paris commitment, an increase from 92% in 2018.

Asked for the first time, 96% of respondents believe that the longer Australia delays decarbonisation, the more abrupt, forceful and disruptive the policy response will need to be, especially for carbon-intensive industries.

There is an opportunity to address this in 2020 with the Climate Change Authority reviewing Australia’s policy toolkit and the Government reviewing the operation of its Safeguard Mechanism and developing a technology roadmap as part of a Long-Term Strategy.

2019 Survey