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Newsflash

China to have world's 2nd largest carbon trading scheme by 2014

24th January, 2013

China will have the world's second largest carbon trading scheme by 2014, or twice as big as Australia's regime, a latest report showed Thursday.

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Carbon price of $29 'not implausible', says Blair Comley

20th January, 2013

THE head of the federal climate change department says it is "not implausible" the European carbon price could rise to $29 a tonne by mid-2015, when Australia's emissions trading scheme begins.

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Australia angling for creation of global carbon market

28th November, 2011

Finding a market for its recently passed carbon price scheme will be Australia's focus during this week's United Nations climate change negotiations in Durban as the talks are a "stepping stone along the path" towards a global climate change agreement.

"From Australia's point of view, now that we have legislated for a carbon price, one of our most important goals on the international climate change stage is to ensure our businesses have access to carbon markets," Greg Combet, climate change and energy efficiency minister, said recently at a talk given at the Australian National University.

"In Durban I will also be discussing with my counterparts, and with business leaders, next steps in building the global carbon market, including through linking emission trading schemes," he said.

Mr. Combet spoke on how a comprehensive global climate change agreement will take time, casting doubt it an agreement will be reached during this week's United Nations climate change negotiation in Durban.

The minister pointed to Australia's recent legislation of a climate change plan - which took many years - as an example of how progress can be made globally.

As an Annex I country, Australia is committed to reduce its emission levels of greenhouse gases to targets set below its 1990 levels. The country's Clean Energy Future legislative package, which includes the carbon price, is estimated to deliver a cut to its carbon emissions of at least 160 million tons a year.

EcoSeed - Katrice R. Jalbuena