EMISSIONS TRADING – AUSTRALIA

Price carbon cuts? Yes you can

roymorgansocial Leave a comment

Original article by Simon Benson
The Australian Financial Review – Page: 1 & 4 : 2-May-19

Independent modelling has concluded that GDP growth could be reduced by a cumulative $264bn by 2030 if Labor’s carbon emissions reduction policy includes unlimited access to international carbon credits. This could rise to around $1.2bn if the use of foreign carbon credits is restricted or banned. The modelling is outlined in a new report by former bureaucrat Brian Fisher, which will be released on 2 May. Labor’s climate change spokesman Mark Butler has previously argued that its emissions reduction policy cannot be costed.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN BUREAU OF AGRICULTURAL AND RESOURCE ECONOMICS AND SCIENCES, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE, AUSTRALIAN GREENS

Revealed: Bill’s carbon costs

roymorgansocial Leave a comment

Original article by Simon Benson, Ben Packham
The Australian – Page: 1 & 4 : 18-Apr-19

The Greens believe that Labor’s greenhouse gas emissions reduction target is too dependent on the use of international carbon credits. Greens MP Adam Bandt has signalled that the party could use its numbers in the Senate to block any legislation that mandates the use of international carbon credits. Meanwhile, some estimates suggest that Australian businesses could be forced to pay up to $25bn to purchase international carbon credits under Labor. This is based on an average price of $50 per carbon credit over the next decade.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE, BAECONOMICS PTY LTD, AUSTRALIAN BUREAU OF STATISTICS

ALP plan reignites carbon wars

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 2-Apr-19

Prime Minister Scott Morrison has criticised Labor’s proposed baseline and credit scheme, describing it as a "massive tax on jobs" that will force affected companies to spend $35bn to buy offshore carbon credits. However, the Greens argue that the scheme does not go far enough, and it should cover a broader range of industries. Greens MP Adam Bandt adds that allowing the use of international carbon permits will delay Australia’s transition to 100 per cent renewable energy. Morrison has also criticised Labor’s 2030 target for electric vehicles to comprise 50 per cent of new cars that are sold in Australia.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, THE AUSTRALIAN INDUSTRY GROUP, BUSINESS COUNCIL OF AUSTRALIA, MINERALS COUNCIL OF AUSTRALIA

ALP’s emissions trading scheme

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 1-Apr-19

Labor will released details of its climate change policy on 1 April. Amongst other things, Labor will introduce a new carbon emissions cap, which will be known as a baseline and credit scheme. It will initially apply to about 250 businesses whose carbon emissions are 25,000 tonnes a year. Labor will also seek to address the issue of vehicle emissions by mandating that electric vehicles must account for 50 per cent of all new cars that are sold by 2030.

CORPORATES
AUSTRALIAN LABOR PARTY

PM rejects advice on carbon plan

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 8 : 8-Dec-16

The Federal Government has decided against considering a carbon scheme for the electricity sector and thus ignored advice from Chief Scientist Alan Finkel. In early December 2016, Energy Minister Josh Frydenberg suggested that such a scheme could be considered under Finkel’s review of Australia’s National Energy Market. He subsequently rejected this scenario, under pressure from Senator Cory Bernardi and Industry Minister Christopher Pyne.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE

PM rules out carbon price

roymorgansocial Leave a comment

Original article by Sarah Martin
The Australian – Page: 1 & 4 : 7-Dec-16

The Australian Government will proceed with its review of its Direct Action climate change policy, but Energy Minister Josh Frydenberg says introducing an emissions intensity scheme will not be on the agenda. A number of Coalition MPs have warned against the introduction of any policy that resulted in higher electricity prices, including a carbon tax or an emissions trading scheme. However, the Opposition has indicated that it supports an emissions intensity scheme.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN ENERGY COUNCIL, LIBERAL PARTY OF AUSTRALIA, NATIONAL PARTY OF AUSTRALIA, AUSTRALIA. DEPT OF FOREIGN AFFAIRS AND TRADE

Cal for new ETS based on emission intensity

roymorgansocial Leave a comment

Original article by Ben Potter, Mark Ludlow
The Australian Financial Review – Page: 4 : 1-Sep-16

The Climate Change Authority has proposed the introduction of a market-based emissions intensity scheme for the electricity industry. Under the proposed scheme, the power industry could use local carbon credits to offset the liability but would not have access to international credits. Power generators support the idea while the LNG industry stresses the importance of competitiveness which may be under threat under the proposed scheme.

CORPORATES
AUSTRALIA. CLIMATE CHANGE AUTHORITY, ORIGIN ENERGY LIMITED – ASX ORG, CLIMATE INSTITUTE (AUSTRALIA) LIMITED, ENGIE SA, MITSUI AND COMPANY LIMITED

ALP’s climate policy ‘to leave some in dark’

roymorgansocial Leave a comment

Original article by Rick Morton
The Australian – Page: 1 & 6 : 29-Apr-16

Welfare groups are concerned about the Australian Labor Party’s new climate change policy on low-income households if it wins the 2016 federal election. Labor says the policy will have a limited impact on electricity prices, but Welfare Rights Network Sydney’s Gerard Thomas argues that compensation will be necessary and it must be more equitable than that provided under Labor’s carbon tax. The Labor policy includes an emissions trading scheme and sourcing 50 per cent of the nation’s electric power from renewable energy by 2030.

CORPORATES
AUSTRALIAN LABOR PARTY, WELFARE RIGHTS NETWORK SYDNEY, COUNCIL ON THE AGEING, COMBINED PENSIONERS AND SUPERANNUANTS ASSOCIATION OF NEW SOUTH WALES INCORPORATED, AUSTRALIAN COUNCIL OF SOCIAL SERVICE, AUSTRALIAN GREENS

Shorten leaves Gillard’s carbon policy behind

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 28-Apr-16

Opposition Leader Bill Shorten says the Federal Government’s Direct Action policy will be abolished if the Australian Labor Party wins the 2016 election. Labor will aim for a 45 per cent reduction in greenhouse gas emissions reduction by 2030. Shorten’s policy is very different from the carbon price scheme of former prime minister Julia Gillard and quite similar to Malcolm Turnbull’s proposal when he was the opposition leader in 2009.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Labor tries again on carbon plan

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 27-Apr-16

The Federal Opposition will release details of its climate change policy on 27 April 2016. It will seek to reduce greenhouse gas emissions by 45 per cent on 2005 levels by 2030. The Australian Labor Party will introduce a new domestic emissions trading scheme in two stages, which will have the ultimate goal of reducing the nation’s carbon emissions to zero by 2050. Labor also intends to introduce a separate emissions trading scheme for the electric power industry from 2018.

CORPORATES
AUSTRALIAN LABOR PARTY, CLIMATE INSTITUTE (AUSTRALIA) LIMITED, AUSTRALIA. CLEAN ENERGY FINANCE CORPORATION, NATIONAL PARTY OF AUSTRALIA