Australia's climate change policy has four major components that will work together to transform the country to a low carbon future
First carbon pricing. Initially fixed but from 2015 through a floating carbon price, emissions trading will operate under an emissions cap to ensure Australia meets its emissions reduction trajectory. Carbon pricing creates a completely new market in our economy valued at $8bn per annum.
While carbon pricing does not directly obligate most businesses its effect is already cascading down through supply chains in the form of increases in the cost of energy and business inputs
Second, stimulation of renewable energy through a Renewable Energy Target (RET) and funding for clean energy research and development. This aims to lift the renewable energy component to 20% of national production by 2020 and make low carbon energy more accessible and affordable for businesses over time
Thirdly energy efficiency in homes and businesses. This includes assistance for businesses to help reduce energy and water use, innovate, and move to renewable energy supplies. are grantsavailable to qualifying businesses.
Lastly improving land management through better farming practices and carbon storage in the soil
The new climate legislation is the most significant economic intervention in Australia for more than a decade. No business is completely protected from its effects and Carbon Business is focused on the opportunities and challenges it presents.
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