Australia's Carbon Pollution Reduction Scheme
Twelve months ago – as the first official act of the newly elected Rudd Government - Australia ratified the Kyoto Protocol. Now, Australia is taking another important step on the path to a low carbon future. On 15 December the Australian Government released its policy ‘White Paper' on the Carbon Pollution Reduction Scheme. The White Paper sets out Australia's medium and long-term emissions reduction goals and the design of Australia's emissions trading regime, the primary vehicle to achieve those goals.
Coal outlook dim as export prices tumble
Theoutlook for Australia's coal exporters has continued to weaken, with reports of further falls in contract thermal coal prices. Japanese newsletter The Tex Report said first coal contracts for Japan's next financial year had been signed, with utilities getting coal at the export port at between $US70 and $US80 a tonne -- up to a 45 per cent discount from this year's price.
Coal industry has climate deal concerns
The coal industry is concerned it will not get enough financial assistance out of emissions trading. Under the federal government's plan released on Monday, coal mining companies will get $750 million to adjust to the scheme. There is also assistance worth $3.9 billion to coal-fired electricity generators. Ralph Hillman, executive director of the Australian Coal Association, said on Tuesday the plan was "a step in the right direction" but the coal industry should get more assistance.
