Tony Abbott talks with 7.30's Chris Uhlmann 4/7/2011

TONY ABBOTT: What we've said, Chris, is that we are happy. We want to achieve a five per cent reduction. We believe that we can achieve that reduction by our direct action policy. We'll be reviewing things as time goes by. We've said that in 2015 there'll be a review and we'll announce well before 2020 what we think should happen after that.

CHRIS UHLMANN: And will that five per cent reduction that you're aiming for get all the things that the Australian people clearly want? Will it look after Kakadu, will it make sure that the Barrier Reef is safe?

TONY ABBOTT: Well, five per cent under us will achieve as much as five per cent under the Government.

CHRIS UHLMANN: Which you say is nothing.

TONY ABBOTT: Well, look, five per cent is five per cent. And if the Government is going to achieve all these good things by a five per cent reduction in emissions, well, we'll achieve the same good things.

CHRIS UHLMANN: Why would you have a policy that costs $10.5 billion that you think will achieve nothing?

TONY ABBOTT: Well, I don't say it will achieve nothing, because one of the good things about our policy, Chris, is that all of the measures that we will fund under our policy, the extra trees, the extra soil carbon, the smart technology to take carbon dioxide from power stations and, amongst other things, create stockfeed and biodiesel with it, these are all intrinsically good things. More trees are good, better soil is good and new products are good...

Opportunities in the Carbon Farming Initiative will be revealed at the Carbon Farming Conference & Expo, 28-29 September, 2011