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| Home » Carbon trading » Australia Carbon Trading Scheme
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Australia Carbon Trading Scheme |
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As per a Jun 3, 2007 report, Australia was set to launch its carbon-trading scheme by year 2012. John Howard then Australian Prime Minister declared this. Australia Carbon Trading Scheme was meant for reduction of greenhouse emissions by the country.
The first step towards this was to begin with the setting up of an "aspirational" target of carbon emission reduction from year 2008. This however entailed a comprehensive study of economic costs involved for the nation. This carbon-trading scheme as declared in 2007 was to possess a national character with scope for incorporation of international developments in related fields. Side by side, this trade scheme was to maintain competitiveness of Australian emissions-intensive industries, which would become trade exposed. Henceforth, the onus of emission reduction would be on free market. This in turn would raise energy costs for household and business enterprise in Australia. With the introduction of Australian carbon trading scheme it would become the job of the market mechanism to bring about the most effective emission lowering technology among the whole set of available technologies in this regard. Nuclear power would also be a tenable option in this list. Carbon trading essentially involves putting a limit and a price on levels of pollution. Companies, which operate in an efficient manner, gather savings in respect to their allotted levels of pollution. They can sell the same to companies who operate at pollution levels above those allowed by regulatory authorities. As per an Oct 21, 2008 report there has been demands for inclusion of agriculture into Australia’s carbon trading scheme. As per this report, the said scheme is due to be introduced in year 2010. Agriculture has some serious issues regarding carbon accounting to name a few. (It may be noted that by nature agricultural sector possesses a large number of small-scale operators).
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