Greenfleet's forests

Take a look for yourself

Featured Supporter

Autopia Management

24 February 2011

Fixed carbon price likely from 1 July 2012

Prime Minister Julia Gillard and members of the Multi-party Committee on Climate Change just held a press conference in Canberra to announce their intentions for the introduction of an interim fixed carbon price, prior to a full cap and trade emissions trading scheme.

The details are still far from firm, but the sketchy details released today included:

• fixed price permits to be introduced from 1 July 2012, for a period of 3 to 5 years while the details of a cap and trade scheme are worked out
• permit prices are yet to be set, but will increase each year
• sectors covered will include stationery energy; transport; industrial emissions; fugitive emissions from active mines (not decomissioned mines); and non-legacy waste emissions
• compensation for industry and households is yet to be determined
• agriculture to be excluded initially, but farmers to be compensated for efforts to cut emissions - we hope this provision will be extended to value all biosphere carbon, including native forests for the many benefits they provide

Of course this all needs to pass through the entire legislative process prior to commencement in July next year, and then the process will commence again for the cap and trade scheme to follow.