I´m Dreaming Of A White Paper... Climate Change Policy For Christmas

Introduction

The Federal Government's Carbon Pollution Reduction Scheme White Paper (White Paper) outlines the Government's climate change policy, having considered Treasury modelling, reports from Professor Ross Garnaut and over 1000 submissions from the public in response to the Government's Green Paper.

The highlights are:

• an un-conditional commitment to 5% reductions from 2000 emission levels by 2020;

• up to 15% reduction from 2000 emissions levels by 2020 pending a global agreement;

• a price cap of $40 for the first 5 years but with an initial expected price in 2010 of $23 per tonne;

• ability to surrender an unlimited number of international Kyoto units in addition to carbon pollution permits;