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Australian govt unveils new carbon trade scheme
Source: Agencies |
November 24, 2009, Tuesday
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AUSTRALIA'S government boosted carbon trade compensation to big emitters, coal companies and electricity generators, under a deal offered to opposition lawmakers and unveiled by Prime Minister Kevin Rudd today.
The changes see an additional A$1.28 billion in expenditure, reaching A$7 billion by 2019-2020, Rudd said in a statement.
The opposition will decide later today whether to support the changes and allow the carbon trade laws to pass through parliament in a vote scheduled for this week.
The scheme, due to start in July 2011, will cover 1,000 of Australia's biggest polluters and will be the second domestic trading platform outside of Europe, putting a price on every tonne of carbon emissions.
The changes see an additional A$1.28 billion in expenditure, reaching A$7 billion by 2019-2020, Rudd said in a statement.
The opposition will decide later today whether to support the changes and allow the carbon trade laws to pass through parliament in a vote scheduled for this week.
The scheme, due to start in July 2011, will cover 1,000 of Australia's biggest polluters and will be the second domestic trading platform outside of Europe, putting a price on every tonne of carbon emissions.
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