CANBERRA, Sept. 14 (Xinhua) -- Australia is one of the worst countries to generate business in a low carbon economy, an international report revealed on Monday.
The first-ever G20 low carbon competitiveness report looked at productivity versus emissions or "carbon productivity" and made a sad assessment of Australia's standing and future growth.
Australia ranked 15th in an analysis of its capacity to generate business in a low carbon economy, the lowest position of any industrialized country.
It also found Australia was in the bottom of the pack when it came to its share of meeting the global greenhouse gas target of 450 parts per million by 2020.
The situation had the potential to ruin Australia's economic viability, Investor Group on Climate Change's Nathan Fabian said.
"Assuming global moves to lower emissions, economies that grow as they lower emissions will become the most attractive to investors," he said.
"If Australia lags other economies in reducing emissions, local investors will look to economies that provide both economic growtha nd lower emissions risks."
Australia's low ranking was a result of its carbon intensive exports, low use of clean energy and high consumption of transport fuels, the Climate Institute noted.
France, Japan, the United Kingdom, South Korea and Germany ranked the best for carbon competitiveness.
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