Legislating to float the carbon price
In what must rank as a near-record time from media statement to draft legislation, the Australian government this week released draft bills to accelerate its policy of floating the carbon price. This follows its announcements earlier this month that the current carbon scheme would shift from the current fixed-price regime to a floating price on 1 July 2014, one year earlier than planned. While mechanical in parts, the draft legislation includes the first written confirmation on a number of important policy elements.
With the next Australian election looking increasingly likely to interrupt the parliamentary timetable, the fate of these amendments (and the current carbon scheme) appears largely dependent on the election outcome. Even if the government is returned at the next election, the amendments are unlikely to be passed until late 2013.
By bringing forward the start of emissions trading, the proposed amendments allow Australian businesses to access the international carbon markets, which should reduce the carbon cost for 2014–15…
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.
Sign in or Register to continue reading this article
It's quick, easy and free!
Why register to The Lawyer
More relevant to you
News from The Lawyer
Analysis from The Lawyer
Shanghai’s ground-breaking Pilot Free Trade Zone could mark the beginning of the long-awaited liberalisation of China’s legal services sector.
Hong Kong IPO activity is hotting up again, but UK legal stalwarts are looking over their shoulders as US rivals make up ground fast