Emissions trading scheme to be efficient way for Australia to cut carbon emission

08:06, June 10, 2011      

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A new report released on Thursday said that an emissions trading scheme (ETS) is the most efficient way for Australia to cut carbon and tackle climate change.

The 230-page Productivity Commission report, released on Thursday, threw support to the government's plan to put a price on carbon from July 2012, followed by an ETS within three to five years.

The Productivity Commission studied policies in China, Germany, Japan, New Zealand, South Korea, the United Kingdom and the United States, and found there were around 1,000 different ways in which major nations are trying to cut carbon pollution.

However, it said popular methods such as direct subsidies for solar cells and tax cuts for bio-fuels are very expensive and produce little in the way of carbon abatement.

"An explicit carbon price applied broadly to the economy would achieve abatement in most likely much more cost effective ways" than other methods, the report said.
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Source: Xinhua
 
 
     
 
 
 
     
 
 
 
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