31 March 2005
A set of principles released today by state and territory leaders would form the basis of a national carbon trading scheme, NSW Premier Bob Carr said today.In a joint communique, Australia's premiers and chief ministers said a working group had recommended a cap be set on greenhouse gas emissions as part of carbon trading schemes.
The working group recommended companies be permitted to hold greenhouse emission permits, each of which would entitle them to emit the equivalent of one tonne of carbon dioxide.
Companies would be able to trade the permits.
Further investigation and analysis of the proposed carbon trading market would now take place and the working group would report to state and territory leaders later this year, the communique said.
Mr Carr said the proposed carbon credits trading scheme was a response to inaction by the Federal Government, which has refused to ratify the Kyoto protocol on climate change.
"In the absence of Commonwealth action, NSW and Victoria have spearheaded the development of a state and territory based emission scheme," he said.
"This is a pragmatic and cost effective plan that will reduce Australia's greenhouse emissions."
http://www.heraldsun.news.com.au/common/story_page/0,5478,12710315%255E1702,00.html
