The Australian government has opened consultation on the Terms of Reference for its Emissions Reduction Fund as part of its Direct Action Plan to reduce emissions. The government is seeking submissions from businesses and community groups by November 18th. Unlike the Carbon Tax, the ERF aims to reduce domestic emissions 5% by 2020 through incentives for companies rather than penalties. It will cost $300-750 million annually through 2017, much less than the $9 billion Carbon Tax. A Green Paper will be released in December followed by the final Emissions Reduction Fund White Paper in early 2014, taking effect on July 1, 2014.
The Australian government has opened consultation on the Terms of Reference for its Emissions Reduction Fund as part of its Direct Action Plan to reduce emissions. The government is seeking submissions from businesses and community groups by November 18th. Unlike the Carbon Tax, the ERF aims to reduce domestic emissions 5% by 2020 through incentives for companies rather than penalties. It will cost $300-750 million annually through 2017, much less than the $9 billion Carbon Tax. A Green Paper will be released in December followed by the final Emissions Reduction Fund White Paper in early 2014, taking effect on July 1, 2014.
The Australian government has opened consultation on the Terms of Reference for its Emissions Reduction Fund as part of its Direct Action Plan to reduce emissions. The government is seeking submissions from businesses and community groups by November 18th. Unlike the Carbon Tax, the ERF aims to reduce domestic emissions 5% by 2020 through incentives for companies rather than penalties. It will cost $300-750 million annually through 2017, much less than the $9 billion Carbon Tax. A Green Paper will be released in December followed by the final Emissions Reduction Fund White Paper in early 2014, taking effect on July 1, 2014.
The Government has today released its Terms of Reference for the Emissions Reduction Fund as part of its Direct Action Plan. The Government is urging business and community groups and organisations to make submissions in response to the Terms of Reference. The Government yesterday released draft legislation to abolish the Carbon Tax because it hurts jobs, drives up cost of living and domestic emissions continue to rise. There is a better way. The ERF will provide incentives for companies to reduce their emissions to achieve a five per cent reduction in emissions by 2020. It will be a market mechanism designed to simply and efficiently source the lowest cost abatement. Unlike the Carbon Tax, the ERF will actually reduce our domestic emissions by five per cent by 2020. And unlike the Labors $9 billion a year Carbon Tax, the costs of the ERF will be capped at $300 million (2014-15), $500 million (2015-16) and $750 million (2016-17) over the forward estimates. The message for Labor is clear, will they allow repeal of the Carbon Tax to pave to way for a climate policy that will achieve our targets or will they continue to support higher power prices. Submissions in response to the Terms of Reference will be considered in development of a Green Paper. This will be released in December 2013. A White Paper outlining the final design of the Emissions Reduction Fund will be released early 2014. The Emissions Reduction Fund is to take effect from 1 July 2014. The Terms of Reference are available on the Departments website at www.environment.gov.au/emissions-reduction-fund and the consultation process remains open until 18 November 2013.