Pricing emissions
Source: Agencies |
July 2, 2012, Monday
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Print Edition
Print Edition
AUSTRALIA yesterday joined a growing number of nations to impose a price on carbon emissions across its US$1.4 trillion economy in a bitterly contested reform that offers trading opportunities for banks and polluters.
Australia's biggest polluters, from coal-fired power stations to smelters, will initially pay A$23 (US$23) per ton of carbon dioxide emitted, more than twice the cost of carbon pollution in the European Union, currently trading around 8.15 euros (US$10) a ton. The scheme allows emissions trading from 2015, when polluters and investors will be able to buy overseas carbon offsets, or ultimately trade with schemes in Europe, New Zealand and possibly those planned in South Korea and China.
Australia's biggest polluters, from coal-fired power stations to smelters, will initially pay A$23 (US$23) per ton of carbon dioxide emitted, more than twice the cost of carbon pollution in the European Union, currently trading around 8.15 euros (US$10) a ton. The scheme allows emissions trading from 2015, when polluters and investors will be able to buy overseas carbon offsets, or ultimately trade with schemes in Europe, New Zealand and possibly those planned in South Korea and China.
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