Well, Karoly presented the cold (or globally warm) hard facts, as he does so well and Catherine presented the details of the carbon price and fielded some questions. I'd say her interest was more in explaining the package as she'd have made the call that most of the people in the room accepted that something needed to be done. I don't think she really even claimed that what they were doing was commensurate to the task at hand. It's a 'first step'.
I did ask a question of David about whether the 5% cut by 2020 targets were adequate (a dorothy dixer, I think it's called) and he spelled the situation out quite clearly. No, we'll need to cut much more deeply and much more quickly if we want to have any hope of averting runaway climate change.