Australia will not be linking its emissions trading scheme
to California any time soon. But Australia will have to increase its emissions
reduction targets to between 15-25% below 2000 levels by 2020, following
climate action by the European Union, US, Canada, and China.
At a public
seminar hosted by Grattan Institute earlier this week, the chairman of
the California Air Resources Board destroyed two myths. Mary Nichols, one of Time
Magazine’s 100 most influential people, demonstrated that the world is
moving on climate change and that cap-and-trade emissions trading schemes (ETS)
are well and truly alive.
