ARTICLE · 14 NOVEMBER 2012

Norton Rose at Carbon Expo Australasia 2012 - Day 3

Norton Rose Fulbright Australia

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The hot topics for Day 3 were the next Kyoto Protocol commitment period and the Coalition's pledge to repeal the CPM.

AustraliaEnvironment

Dominic Adams

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Hot Topic

There were two hot topics today. First, the Minister has announced that Australia is ready to join a second commitment period of the Kyoto Protocol. This commitment will have a number of conditions, including continued progress in international negotiations towards the 2015 agreement and existing land sector rules continuing and providing emissions abatement opportunities through better land management, including the Carbon Farming Initiative. This commitment, following closely on the heels of the announcement of linking with the EU ETS, is another step by the Government in its attempt to embed the Carbon Price Mechanism (CPM) into the Australian landscape and the global carbon market and make it difficult to unwind.

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