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Friday, February 5, 2010

Australia out of step on emissions trading scheme

AUSTRALIA is looking increasingly isolated in the global community as Kevin Rudd presses on with his government's emissions trading scheme. U.S. President Barack Obama admitted just two days ago he might have to abandon his proposal for emissions trading in favour of direct action in order to steer his carbon-cutting plans through the US Senate. None of the world's top five polluters -- the UNITED STATES, China, RUSSIA, indian and Japan -- has an ETS. New Zealand is the only nation in the world with an operating emissions trading scheme, excluding those affiliated with or planning to link to the European Union's ETS. Most of New Zealand's provisions have not yet come into effect, and the Labour-legislated scheme was significantly amended by the National Party-led government last September after fears about its impact on low-income households and primary industry. Start of sidebar. Skip to end of sidebar. End of sidebar. Return to start of sidebar. The New Zealand scheme does not have a cap on emissions, and will effectively operate as a carbon tax until 2013. Canadian Prime Minister Stephen Harper told the World Economic Forum in Davos this week that technological change would offer the major solution to combating global climate change, not setting targets to cut carbon emissions. "It has to be done, but it will not be done by simply trying to pretend economic imperatives don't exist, because all that happens when that happens is people set targets and then don't meet them," Mr Harper said. The International Energy Agency's climate database lists hundreds of "incentives" and "public investment" schemes designed to tackle climate change in virtually all OECD member states. The Australian Department of Climate Change's website tells the story on emissions trading. Of the 37 countries on its list of nations that have established or are proposing an ETS, 30 are linked to the EU scheme. Opposition climate action spokesman Greg Hunt said the Prime Minister was "intentionally, deliberately and consistently" misrepresenting the European emissions trading scheme. "In Europe, they've had a mock trading scheme which largely only provides incentives for people to reduce their emissions, with almost no penalty for firms which continue on their economic activity," Mr Hunt said. "Only 4 per cent of business as usual is touched by the European scheme, as opposed to almost all Australian economic activity, other than direct emissions from agriculture. "The rest of the world is much closer to what we're doing in terms of providing incentives for direct action and reducing emissions." EU nations have a variety of emissions reduction schemes of their own. French President Nicolas Sarkozy announced a carbon tax last September covering oil, gas and coal, but as most of France's electricity is produced through low-emission nuclear technology, it was excluded. The scheme was designed to be phased in gradually from January 1, but was struck down by France's Constitutional Council just days before the new year. However, Mr Sarkozy says the law will be redrafted. Source:theaustralian.com.au/

1 comment:

  1. Have you seen whats been reported in coal industry and coal reports lately? The latest coal market news is that emerging countries are predicting to use large amounts of thermal coal for power generation and metallurgical coal for steel production and they are investing heavily onshore and offshore to secure the coal they need so that they can meet increasing demand for electricity and steel. Cherry of www.coalportal.com

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