Emissions Trading

Australia’s first decision must be whether the climate change solution lies in markets or a new generation of government economic planning. In its submission to Howard’s taskforce, the Business Council of Australia signals its preference: “The most effective solution is one primarily based on a market solution.” The BCA backs a trading scheme with a cap to set a maximum level of emissions. It argues that government should not predetermine energy sources.

Reference to the BCA submission to the Emissions Trading Task Group in article titled ‘Carbon the Currency of a New World Order’ by Paul Kelly, The Australian, 21 March 2007, p. 14.