b'Canberra observed Ensuring a net zero (greenhouse gas?) future and protecting Australias biodiversitySupporting healthy and thriving communitiesEnabling a productive and innovative economyBuilding a stronger, more resilient nation.Feedback on the shape on the final form of Australias refreshed priorities and statement is invited (see https://consult.industry.gov.au/sciencepriorities2). The window of opportunity to provide feedback was from 7-29 September, but if anyone wants to contribute, the closing date may be flexible.Figure 3.GDP per capita and labour productivity growth since Federation until 2016. Source: https://www.pc.gov.auThe Productivity Index: Is itservice sector. For example, someThe latest Quarterly Update of Australias important? How is it measured? measure of the contribution ofNational Greenhouse Gas Inventory for Governments and industries have usedteachers in schools or medical staff inthe March 2023 was released in August the Productivity Commission to supporthospitals. Good educational or health2023 (https://www.dcceew.gov.au/their arguments on wages, economicoutcomes are often dependent onclimate-change/publications/national-reform and working conditions forlow student and patient staff ratios,greenhouse-gas-inventory-quarterly-many years. So, when Michael Brennan,but on current measures, if staffupdate-march-2023). The report shows who has just stood down as the Chairnumbers go up, productivity goesemissions were 465.9 million tonnes (Mt) of the Commission, gave his talk at thedown, even though the serviceof carbon dioxide equivalent in the first National Press Club, I thought it might bewould improve. quarter of 2023. This is flat compared useful to go along and learn more aboutwith the previous year, with emissions It is like the number of tellers accessibleestimated to be up 0.1% (0.3 Mt CO 2 -e).productivity. in a bank (if one still exists in your The basic argument is that Australiansneighbourhood). Productivity goes upThe trend over the year reflects have grown steadily richer due toand bank profits increase if there aremovement across the sectors, including:productivity growth. But how do youfewer tellers, but the wellbeing of theOngoing reductions in electricity measure productivity? At first blush itpublic is not taken into consideration. emissions (down 3.9%; 6.3 Mt sounds simple. Consequently, whilst increasingCO 2 -e) as renewable energy uptake It is the ratio of the quantity ofproductivity gains using current measurescontinues to displace fossil fuel output produced to some measuremay have been a useful target in the 20thpower sourcesof the quantity of inputs used (seecentury; it may no longer be an appropriateDecreased fugitive emissions (down https://www.pc.gov.au). The standardtarget in an economy increasing1.1%; 0.6 Mt CO 2 -e), reflecting a fall in example is that in 1901 it took 18dominated by the service sector. coal production of 4.6%;minutes of the average workers timeDecreased emissions from stationary to afford a loaf of bread. Now it takesGovernment encourages offshoreenergy (excluding electricity) about 4 minutes. greenhouse gas storage (down 0.8%; 0.9 Mt CO 2 - e), driven primarily by decreased activity in the According to the ProductivityThe Government has identified tenmanufacturing sectorCommission, productivity has been theareas that are available for workIncreased transport emissions (up driver of long-term improvements in livingprogramme bidding in the latest6.4%; 5.9 Mt CO 2 -e), reflecting the standards and Australians have grownrelease. These areas are offshore ofongoing recovery from COVID related steadily richer due to productivity growth. Western Australia, Victoria and Tasmaniatravel restrictions; andacross seven basins see (https://www. Increased emissions from agriculture Figure 3 indicates the productivity(up 3.2%; 2.6 Mt CO 2 -e), returning growth over the first 115 years afterindustry.gov.au/news/2023-offshore-greenhouse-gas-storage-acreage- to pre-drought levels because of federation. increases in livestock populations and release-now-open#:~:text). The areas Unfortunately, GDP per capita is not aare in the Bonaparte, Browse, Northerncrop production.good measure of wellbeing. EconomicCarnarvon, Perth, Otway, Bass and activity and labour productivity is onlyGippsland basins. Emissions in the year to March 2023 counted when items are made for sale orwere 24.4% below June 2005 levelsuse, such as a car or a house. Bidding is open until 28 Novemberthe base year for Australias 2030 Paris 2023 and according to Minister King,Agreement target, but we have a long What is missing is an appropriatecompanies must pay to use these sitesway to go to reach our zero-emission measure of productivity in thefrom their profits. target by 2050.OCTOBER 2023 PREVIEW 24'