Australian Carbon Trading Scheme

(16 Nov 2011)

The Australian Government has introduced a carbon levy which could become the world’s second largest emissions trading scheme. The scheme initially sets a fixed carbon tax of A$23 (€17) per tonne and moves to an emissions trading scheme from 2015. The cost of carbon is therefore higher than the Irish carbon tax level and the current market cost of EU allowances. As Australia is one of the most carbon intensive economies due to the widespread use of coal, this is a significant development in advance of the forthcoming climate change negotiations.

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