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Australia's Clean Energy Plan: Update Paper

Date
22 November 2011
Australia's Clean Energy Plan: Update Paper

MELBOURNE: The Climate Group Australia has published a Clean Energy Plan Update Paper covering Australia's carbon scheme and key goals in the upcoming international negotiations at COP17 in Durban and the Rio+20 Earth Summit.

On November 8, 2011, the legislation for a carbon pricing scheme passed through the Australian Senate and became law. From July 1, 2012 onward, emitting one ton of carbon dioxide will cost Australia’s top 500 polluters AU$23. 

This freshly published Clean Energy Plan provides an update to The Climate Group’s July 2011 Clean Energy Plan Briefing Paper, and covers the following issues:

  • How has Australia's carbon pricing scheme changed since July 2011?
  • Amid concerns about the European emissions trading scheme, how will Australia’s scheme compare internationally over the next few years?
  • What will Australia’s key goals be in upcoming international negotiations at Durban COP17 and the Rio Earth Summit?
  • Is the Coalition repeal of the carbon price legislation a realistic possibility?

Over the coming years, the carbon price is expected to unlock billions of dollars of previously blocked private investment in low carbon technologies and business practices, so this analysis of the scheme's future comes at a pivotal time.

Commenting on the day the legislation was passed, Caroline Bayliss, Australia Director, The Climate Group had said: “Already business leaders are calling for certainty and bipartisanship now that the legislation is in place. Many of Australia’s largest companies are showing that they just want to get on with leading the transition to a low carbon economy – and that they are in this for the long haul.”

Following the Senate vote on November 8, 2011, the Businesses for a Clean Economy initiative also publicly welcomed the implementation of the carbon price.  This coalition of more than 330 businesses and industry associations - including major companies such as Alstom, AGL, GE, Grocon, Fujitsu, HESTA Super, IKEA, Pacific Hydro, Pottinger and Unilever -  declared that: “Businesses are poised to invest and innovate and the carbon price package will support progressive businesses to start taking immediate action.” 

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