56 Billion Reasons To Dump Adani’s Carmichael Coal Mine

Great Barrier Reef From Space | Image: Public Domain

The Climate Council states a Deloitte report that puts a dollar value on Australia’s Great Barrier Reef is another reason to pull the plug on Adani’s proposed Carmichael coal mine in Queensland’s Galilee Basin.

One of the natural wonders of the world and comprised of approximately 3,000 individual reefs, the Great Barrier Reef is the largest living structure on Earth. It spans 2,300 kilometres and occupies 348,000 square kilometres; an area as big as the UK, Switzerland and the Netherlands put together.

As we live in a world where the dollar reigns supreme, Deloitte Access Economics decided to calculate its monetary value. It turns out the Great Barrier Reef is the biggest contributor to our nation’s economy.

“The Great Barrier Reef has a economic, social and icon asset value of $56 billion. It supports 64,000 jobs and contributes $6.4 billion to the Australian economy,” the firm states in its report (PDF) titled “At what price? The economic, social and icon value of the Great Barrier Reef.”

Queensland’s government seems to agree with the report’s findings.

“The government promised to focus on job creation and this report demonstrates the Great Barrier Reef is critical to supporting jobs in Australia,” said Minister for the Great Barrier Reef Steven Miles. “The report also rightly identifies an opportunity and need for action on a universal level to protect the reef.”

Coal Mine’s Plug Must Be Pulled

Having repeatedly acknowledged the importance of the icon makes the government’s decision to allow Adani’s Carmichael coal mine to go ahead all the more baffling.

The Deloitte Access Economics report points out the biggest risk to the reef is connected to climate change, which is primarily driven by carbon dioxide emissions from the burning of fossil fuels such as coal. The Reef has already sustained two major bleaching events in the last couple of years attributed to warming ocean temperatures.

“The science is absolutely clear – continuing to mine, drill and burn coal, oil and gas will kill the Great Barrier Reef over coming decades,” said Climate Councilor and climate scientist Professor Will Steffen; who urged the Queensland Government to reconsider its position on the mine.

“Australia can reduce the risk of further coral bleaching on the Reef by joining the rest of the world in turning immediately away from polluting, inefficient and expensive fossil fuels in favour of clean, reliable and affordable renewable energy and storage technology.”

In May, the Climate Council and Oxfam again warned the mine represented a major conflict with Australia’s commitment to addressing climate change.