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ARTICLE · 27 FEBRUARY 2011

A framework for pricing carbon in Australia

Norton Rose Fulbright Australia
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Today the Multi-Party Climate Change Committee (MPCCC), which was established in the wake of the 2010 general election to recommend to the government a design for a carbon pricing mechanism in the Australian economy, released a proposal agreed to by the government and the Greens setting out a broad architecture for the establishment of such a carbon pricing mechanism.

AustraliaEnergy and Natural Resources
Anthony Hobley
Anthony Hobley
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Today the Multi-Party Climate Change Committee (MPCCC), which was established in the wake of the 2010 general election to recommend to the government a design for a carbon pricing mechanism in the Australian economy, released a proposal agreed to by the government and the Greens setting out a broad architecture for the establishment of such a carbon pricing mechanism.  

Announced today by the Prime Minister, flanked by members of the MPCCC including Independent MPs Tony Windsor and Rob Oakeshott, and representatives of the Greens, the proposal states that the carbon pricing mechanism "could commence with a fixed price (through the issuance of fixed price units within an emissions trading scheme) before converting to a cap-and-trade emissions trading scheme" and have the following broad architecture:

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