Australia Gears Up for Carbon Trading
Posted by Danielle Jarvis.
As John Howard’s re-election campaign in Australia warms up, so too has his stance on climate change. Howard signalled yesterday that Australia will develop a carbon trading scheme and invest AU$627 million in new measures (CAD$571 million) to help tackle emissions of greenhouse gases and global warming. Missing from Howard’s speech, were any hard targets for the reduction of GHG emissions, but he has signalled that these would be coming after 2008, so that modeling of impacts could be carried out.
Details of the emissions trading scheme and new measures that have emerged include:
Critics are panning Howard’s plan as too little, and too late. They point to Australia’s track record as one of the world’s worst polluters per capita, and one of only two fully industrialized countries (the other being the U.S.) that refused to sign on to the Kyoto Protocol. Howard, however, states that action by his government since 1990, will prevent about 87 million tonnes of GHG’s a year from entering the atmosphere by 2010. In his speech, he also commented that, “Australia will more than play its part to address climate change, but we’ll do it in a practical and balanced way, in full knowledge of the economic consequences of our nation.”