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Australia's Emission Trading Scheme

Australia announced a bold new Clean Energy Plan in mid 2011(after two previously failed attempts) and later that year managed to successfully pass new legislation through their parliament resulting in a new Clean Energy Bill and over $15b AUD of new investment by 2020.

This new mandatory emissions trading scheme (AU ETS) will start on 1st July 2012 and covers around two thirds of Australia‟s emissions. The initial threshold for liable entities for this scheme will be set at 25,000 tons of CO2e per annum which will mean around 500 of Australia‟s biggest polluters will be covered.

For the first three years this new scheme will operate as a fixed price ETS starting at $23 AUD per ton in 2012. During this time international CERs cannot to be imported however liable entities can use local offsets under the newly established Carbon Farmers Initiative (CFI) to cover up to 5% of their liabilities.

Then after 2015 a three year price floor and ceiling will be introduced up until 2018. The initial price floor will start at $15 AUD per ton in 2015 and will increase at 2.5% per annum. At this time participants in the scheme can then use international CERs for up to 50% of their liability with no restrictions on using local offsets under the CFI.

A detailed summary of the report can be found here "Australia's Clean Energy Plan"

If you would like to contact Brokers Carbon for further information please click here.

Click here for more information on Carbon Footprints or the Kyoto Protocol

Alternatively click here for more information on the Carbon Farmers Initiative (CFI)

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