July 25, 2008: Australia will reap important benefits from the carbon pollution reduction scheme. Properly, the Government has left itself considerable flexibility on several points, which will depend heavily on what other countries do. But the value of the scheme lies not in the details but in three more basic considerations. Australia can now lead economically, technologically and diplomatically in the global effort that lies ahead.
A global climate control regime is on its way. It will almost surely not be a global emissions trading system, but a regime in which participating countries commit to national targets implemented through national means. The Government's proposals can work whether or not global trading comes to pass. More >>>
