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  • Service: Advisory
  • Industry: Automotive, Energy & Natural Resources, Power & Utilities, Oil & Gas, Financial Services, Healthcare, Private Equity, Retail, Industrial Manufacturing, Infrastructure, Transport & Logistics, Government & Public Sector, Chemicals & Performance Technologies, Technology, Media, Telecommunications, Building & Construction, Real Estate, Food, Drink & Consumer Goods, Mining, Life Sciences
  • Type: Business and industry issue
  • Date: 10/12/2011

Australia's Climate Change Plan 

This paper is a summary of the Climate Change Plan report including the proposed carbon price mechanism – how it will work and the key implications for business in Australia.
Australia's Climate Change Plan
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Securing a Clean Energy Future – The Australian Government’s Climate Change Plan was released on July 10, 2011. The plan is designed to transition Australia to a low carbon, clean energy economy through initiatives in four key areas – carbon pricing, renewable energy, energy efficiency, and land management.


Key design elements


  • Commencement date of July 1, 2012.
  • Fixed carbon price for the first 3 years – $23 in year 1 up to $25.40 in year 3.
  • A flexible carbon price will be introduced on July 1, 2015, which will be determined through an emissions trading scheme (ETS)
  • Assistance will be provided to businesses and households through a range of mechanisms
  • All revenue raised from the sale of carbon permits will be used to encourage investment in clean energy activities and ease the cost burden of transition

 

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