The CPRS Emissions Target – It’s 5% With Emissions Trading From 1 July 2010

Earlier today the Federal Government released its White Paper on the Carbon Pollution Reduction Scheme (CPRS). The CPRS is the Government's primary policy tool to reduce Australia's greenhouse gas emissions, with the emissions trading scheme that seeks to impose emissions caps on certain sectors of the Australian economy intended to commence operation on 1 July 2010. The design and implementation of an emissions trading scheme will have far reaching implications for all Australians – some of the business implications include the increased costs associated with putting a price on carbon, risks and opportunities that are likely to arise for high carbon intensive goods and services, and the potential for increased costs associated with mitigation and adaption to climate change.