Australia’s Pollution Law Bucks Global Impasse on Climate Rules and the australia’s law to charge polluters for a carbon emissions caps a 10-year effort that bucked the global deadlock on climate change to we have moved away from striving for international consensus to a world where every nation says, We’ll do it our way, Martijn Wilder, head of emissions trading at law firm Baker & McKenzie in Sydney, said in an interview yesterday after Australia’s upper house of parliament passed a law to impose a carbon price on the country’s 500 largest polluters.
A decision may reignite momentum behind market based solutions for limiting greenhouse gas emissions and accelerate cap and trade plans in China, South Korea, California, said James Cameron, vice chairman of Climate Change Capital in London and the envoys from 190 nations meet for two weeks beginning on Nov 28 in Durban, South Africa, to discuss climate rules for the “Australia looks serious” and will have “more clout” in Durban as a result, said Cameron and who has been advised small island states on the 1997 Kyoto climate treaty.
That’s why Australia’s move is so important it is the 1st time in many years when a country has actually upped the denominator rather than lower it and the Australian legislation will require about 500 companies to pay A$23 ($23.80) a ton for their emissions starting in July 2012 and the plan will raise A$10 billion a year by 2015, when the government-set price gives way to a cap-and-trade system, according to Bloomberg New Energy Finance.
A decision may reignite momentum behind market based solutions for limiting greenhouse gas emissions and accelerate cap and trade plans in China, South Korea, California, said James Cameron, vice chairman of Climate Change Capital in London and the envoys from 190 nations meet for two weeks beginning on Nov 28 in Durban, South Africa, to discuss climate rules for the “Australia looks serious” and will have “more clout” in Durban as a result, said Cameron and who has been advised small island states on the 1997 Kyoto climate treaty.
That’s why Australia’s move is so important it is the 1st time in many years when a country has actually upped the denominator rather than lower it and the Australian legislation will require about 500 companies to pay A$23 ($23.80) a ton for their emissions starting in July 2012 and the plan will raise A$10 billion a year by 2015, when the government-set price gives way to a cap-and-trade system, according to Bloomberg New Energy Finance.
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