Carbon Pollution Reduction Scheme - Impact On Energy And Resources Sector

Key Point

• The Carbon Pollution Reduction Scheme, when implemented in July 2010, will irreversibly change the energy and resources industry.

The Carbon Pollution Reduction Scheme White Paper was released by Prime Minister Kevin Rudd on 15 December 2008, the final version of the Green Paper released earlier in 2008. Signposted by Prime Minister Rudd as "one of the largest and most important structural reforms to our economy in a generation", and proposed for commencement in 18 months time (1 July 2010) the scheme has a lot to live up to.

At this stage, there is no legislation to enact the Government's policy position though it is expected that the proposed Bill will be introduced into Parliament by May 2009. The Government's aim is to have the Bill passed by Parliament by June 2009. While the detail of the legislation will be necessary to assess the full impact of the scheme, the White Paper provides some detail of how the scheme is expected to work and allows