The Federal Government announced yesterday that it will
introduce a price on carbon from 1 July 2012. Each year, 500 of
Australia's highest polluting businesses will be liable to pay
$23 per tonne of CO2-e emitted. The $23 per tonne starting price
will rise 2.5% each year until the commencement of an emissions
trading scheme on 1 July 2015. The Federal Government intends to
release draft legislation for public comment by 31 July 2011.
Around 60% of Australia's carbon pollution will be covered
by the scheme, including pollution from electricity generation,
stationary energy, waste, industrial process and fugitive
emissions.
The Federal Government's aim is to achieve an 80% reduction
from 2000 levels by 2050; with a short term goal of 5% below 2000
levels by 2020. Details of the Federal Government's climate
change plan, Securing a clean energy future, are available at
www.cleanenergyfuture.gov.au.
