King & Wood Mallesons

Asia-Pacific 100 position: 3

Direct Action — Australia's new carbon policy

In a previous alert, we canvassed the repeal of Labor’s Carbon Pricing Mechanism (CPM), which was a key plank of the coalition’s previous election campaign. This article examines the coalition government’s alternative carbon policy — Direct Action — and some of its likely impacts on Australian businesses.

At the broadest level, Direct Action is framed around the Emissions Reduction Fund (ERF). The ERF would be used by the government to purchase carbon abatement via a ‘reverse auction’ system. Hon Greg Hunt, in his recent role as shadow minister for climate action, environment and heritage, called the mechanism a ‘carbon buyback’ — similar to the existing buy-back structure in the water market.

The key elements of Direct Action include both a carrot and stick approach, as outlined below…

If you are registered and logged in to the site, click on the link below to read the rest of the King & Wood Mallesons briefing. If not, please register or sign in with your details below.

Briefings from King & Wood Mallesons

View more briefings from King & Wood Mallesons

Analysis from The Lawyer

View more analysis from The Lawyer

Overview

Level 61, Governor Phillip Tower
1 Farrer Place
Sydney
NSW 2000
Australia
http://www.kwm.com

Jurisdiction: PRC/Australia
No. of offices: 20
No. of qualified lawyers: 1,252

Jobs