Australia to link with European ETS and scrap floor price

Australia and the EU will be linked in what will become the world's largest carbon market under a deal announced by Climate Change Minister Greg Combet.

Combet says Australia will ditch previous plans to impose a A$15 ($15.60) per tonne floor price on carbon when the current fixed-price carbon tax moves to a floating market-mechanism in July 2015.

Australia would be linked to Europe’s emissions trading scheme (ETS), meaning the two trading blocs' carbon price would be "effectively the same", Combet says

While Australia’s businesses will be able to buy carbon credits in Europe when the scheme kicks off in 2015, European businesses will not be permitted to buy Australian carbon units before 2018.

"Australia's carbon price will effectively be…

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login

Recharge App


Dowload the Recharge Mobile App
Get the free Recharge subscriber app on your device running iOS or Android.
Read Recharge anytime and anywhere.
Recharge IOS App