A new report from the Climate Council warns that the Federal Government's lack of action on climate policy will expose Australia to serious economic consequences through international carbon tariffs.
It forecasts more than $4 billion in gross domestic product and $12.5 billion in national income could be lost if major trading partners join the European Union in imposing the tariffs.
Economist at the Climate Council, Nicki Hutley, says Queensland and New South Wales would bear the brunt with up to 70,000 job losses.