Australia Unveils Carbon Tax
by Ben Williams
Australia is joining climate action leaders such as New Zealand and the European Union by unveiling a nationwide plan to tax CO2 emissions at $23 per metric ton.
With an economy significantly reliant on extraction industries, and the nation as a whole overly dependent on abundant coal reserves, Australia is one of the world’s largest per capita polluters.
The tax will be introduced July 1, 2012, and is applied only to the largest polluters. But a market-based trading scheme is expected to be introduced as early as 2015 to replace the tax, enabling a carbon exchange similar to the model being piloted by the Green Gondola Campaign.