Australian Senate and Carbon
A Senate committee has issued the report from its inquiry into the Carbon Pollution Reduction Scheme Bill 2009 CRPS or commonly called ETS emissions trading scheme.
The committee finds that the bill should not be passed in its current form, and that the modeling fails to take into account changed economic circumstances.
The committee considers Treasury modeling to be inadequate and recommends that the Government direct Treasury to undertake further modelling to.
• consider in detail the short-term adjustment costs;
• respond to criticisms made of Treasury’s initial modelling including: taking into account the deterioration of the Australian economy; the likely effect of the CPRS upon jobs and upon the environment; the absence of any modelling of the impact of the CPRS on regional Australia; and
• model other types of schemes that have been proposed as alternatives to CPRS, including: a conventional baseline-and-credit scheme; an intensity model; a carbon tax; a consumption-based carbon tax, and the McKibbin hybrid approach.
The report and the full list of recommendations are available here.
I also received a report from Senator Nick Xenophon and his hey points follow
• Nick believes that climate change is real and that we need to act swiftly and strategically to reduce carbon emissions.
• Nick supports the need for a Carbon Pollution Reduction Scheme as well as measures to expand the development of green technologies.
• However, Nick is concerned that the Government’s proposed CPRS is ‘all stick and no carrot’, in that it emphasises penalties but does not encourage businesses to make the change to greener technologies.
• He is also concerned about the adverse impact the government’s proposed model will have on the economy.
• Nick is sympathetic to an intensity based emissions trading scheme, which would not have the adverse economic impact of the government’s proposal and which would but provide the flexibility needed for larger cuts in emissions.
• Along with the Coalition, Nick will be supporting further modeling by Frontier Economics on different carbon pollution reduction schemes.
My firm belief is that if every household decided to reduce their carbon footprint and every business implemented environmental sustainability we would massively and easily reduce our greenhouse emissions
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