They have an emissions-reduction target, which many think is relatively weak. They only expect to reduce emissions between 5-15% by 2020. They plan to do this by imposing a carbon “tax” on big polluters. If your company emits greenhouse gases, you will have to pay a tax on the amount that is being released.
Many are very critical of this plan.
Australia has a few different plans that have been started or slated to start but nothing that is really underway or making a big difference. In 2007 the prime minister introduced a Australian Carbon Trading Scheme to be implemented by 2012 but it was widely criticized as “too little too late”. The new prime minister has announced the introduction of a cap-and-trade emissions trading scheme that was supposed to start 2010 but is now slated for 2011. This will be based on buying credits to emit.
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