Commonwealth of Australia
Climate Impact & Sustainability Data (2008-09)
Reporting Period: 2008-09
Environmental Metrics
ESG Focus Areas
- environmental
- social
- economic
Climate Goals & Targets
Short-term Goals:
- reduce company income tax rate to 25%
Environmental Challenges
- demographic change (aging population, reduced workforce participation)
- changing social context and expectations (rising demand for services)
- rise of Asia and shifting global economic activity (competition for capital)
- increasing globalization (capital mobility)
- growing environmental pressures (land degradation, climate change)
- unsustainable tax structure (too many taxes, complexity)
Mitigation Strategies
- tax and transfer system reforms to support growth, participation, and productivity
- rationalization of tax and transfer architecture
- concentration of revenue raising on four efficient tax bases
- environmental taxes to address spillover costs
- improved governance and administration of the tax and transfer system