by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Housing : March 2009
Emissions Trading Scheme emissions trading where, when and how Australia is a step closer to having a national emissions trading scheme. Kristin Tomkins reports. T he federal government is due to release draft legislation on the emissions trading scheme (ETS) in weeks. While more questions than answers remain as to how the scheme will operate, the government released its White Paper in December, confirming it remains committed to introducing the scheme in 2010. Under the terms of the plan, the government proposes a reduction in greenhouse gas emissions targets of between 5 and 15 per cent below year 2000 levels by 2020. The 15 per cent cut will occur only in the context of an international agreement in which all major economies commit to substantially reducing emissions. A long-term target has also been set to cut greenhouse gas emissions by 60 per cent below 1990 levels by 2050. This is an ambitious target and relies heavily on clean coal technology and other advancements in power generation to be realised. The government proposes a reduction in greenhouse gas emissions targets of between 5 and 15 per cent below year 2000 levels by 2020 The government predicts that the scheme will cover around 75 per cent of Australia’s emissions and involve mandatory obligations for around 1000 entities. It is still unclear how many businesses and households will be indirectly affected. HIA is particularly concerned about the predicted impact higher energy prices and proposed emissions reductions will have on members, particularly building materials manufacturers. Key Facts Start date 1 July 2010 Emissions target • 5 per cent reduction of 2000 levels by 2020 regardless of any international agreement to emissions reductions • 15 per cent reduction of 2000 levels by 2020 if an international agreement on emissions reductions is made Expected permit price $25 per tonne Permit cap $40 per tonne 28 HOUSING MARCH 2009