Friday, July 15, 2011

10 things to know about the carbon price

We now know the details of the governments package to tackle climate change by pricing carbon pollution. My live blog about the carbon price was a bit messy. So I've cleaned it up a bit.

Here are the 10 important points:

1. A price on pollution of $23 a ton

2. Pollution cuts of at least 5% by 2020 and 80% by 2050

3. Scheme starts as a "tax" but moves to an emissions trading scheme in 2015

4. 500 biggest polluters will pay for their carbon pollution

5. Price rises will be modest - expected to raise average prices by 0.7%

6. Compensation for households will see most better or no worse off

7. Tackling climate change now is cheaper and easier than waiting or doing nothing

8. Over 10 billion dollars for renewable energy

9. Money for storing carbon in land, improving biodiversity, closing down the dirtiest coal plants and helping industry be more efficient.

10. Vulnerable industries who are trade exposed get generous assistance

For more detail on each point see this post.

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