Australia's Carbon Pricing Mechanism
Australia’s Clean Energy Future plan is a comprehensive set of national policies aimed at reducing greenhouse gas emissions and driving investments in clean energy. At its core is a carbon pricing mechanism starting in July 2012 and covering approximately 60 percent of Australia’s emissions. The pricing mechanism begins with a fixed carbon price for the first three years, then transitions to a cap-and-trade program. Revenue generated by the carbon price will be used to ease costs for households and industry and for investment in renewable power, energy efficiency, and other low-carbon alternatives. This brief summarizes the carbon price mechanism and other key features of the Clean Energy Future plan.
Australian Government Resource: Clean Energy Legislation
The Department of Climate Change and Energy Efficiency has released a draft of the Clean Energy Legislation Amendment (International Emissions Trading and Other Measures) Bill 2012 and six related bills to inform stakeholders of the way that it proposes to implement linkages to overseas emissions trading schemes, as announced on Tuesday, 28 August 2012. The proposed amendments facilitate the linking of the carbon pricing mechanism with foreign emissions trading schemes, and make minor amendments to the Clean Energy Act 2011 and related acts.
Additional Australia Resources
This page provides links to government climate change pages, emission reduction targets, the National Greenhouse Gas Inventory, clean energy plans, and other resources on climate-related policies and actions in Australia.