Carbon price plunge could hinder emissions cuts - The Australian - National Affairs

Posted - March 19, 2012 8:00AM - James Masso - The Australian


A carbon price as low as $5 by 2020 could undermine the ability of Australia's carbon package to force cuts to emissions.
First off: The introduction of Australia's $23 a tonne price from July 1 has sparked concerns from major business groups in the wake of the collapse in the EU emissions trading price to about $10 and a corresponding slump in the value of the UN's Clean Development Mechanism Certified Emissions Reduction units (report).
Not excessive: Research from the Climate Institute and global energy giant GE says countries such as Norway ($53 a tonne), Britain ($24-$30), Switzerland ($30-$60) already have higher prices than Australia's $23 a tonne (report). Australia's economy is less equipped to deal with a low carbon emissions world than it was nearly two decades ago, an international study has found (report). Will Steffen writes: Climate change is influencing more than just droughts.


Complete Post at:
http://www.theaustralian.com.au/national-affairs/capital-circle/carbon/story-fn59nqgy-1226303498799