Prime Ministerial Task Group On Emissions Trading

Prime Ministerial Task Group On Emissions Trading

On 10 December 2006, the Australian Prime Minister John Howard announced the establishment of the Prime Ministerial Task Group on Emissions Trading. The task group has been tasked with developing an Australian Carbon Trading Scheme and was given the following terms of reference:

"Australia enjoys major competitive advantages through the possession of large reserves of fossil fuels and uranium. In assessing Australia’s further contribution to reducing greenhouse gas emissions, these advantages must be preserved.

Against this background the Task Group will be asked to advise on the nature and design of a workable global emissions trading system in which Australia would be able to participate. The Task Group will advise and report on additional steps that might be taken, in Australia, consistent with the goal of establishing such a system."

The Task Group submitted its final report on 31 May 2007. The proposed scheme has some similarities to the "hybrid scheme" developed by Warwick McKibbin.

The Task Group is entirely separate from the National Emissions Trading Taskforce (NETT), an initiative of Australian state and territory governments, which is also investigating the careful design of a national emissions trading scheme (NETS).

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