Australia to Cut Emissions

Australia has committed to cutting greenhouse gas emissions 5%-15% by 2020 compared with 2000 levels. The main feature of the program is an emissions trading scheme (ETS), due to start in mid-2010, covering 75% of Australia’s emissions of carbon dioxide (CO2) equivalent. About 1,000 companies will participate in the ETS with emission permits purchased at auction or allocated free of charge. Australia’s is the biggest emission-reduction scheme to be announced by a government outside Europe. Australia ratified the Kyoto Protocol in November 2007. The...

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