News

Regulation

Staff Reporter

, Australia

Published:

12 years ago

Australia outlines plan to reduce gas emissions

Australian Resources Minister Martin Ferguson asked the nation's electricity providers to replace ageing networks.

A report outlines plans to charge polluters for emissions.

The government intends to reduce greenhouse gas emissions by at least 5% by 2020 and to generate 20% of the nation's energy from renewable sources.

The Investment Reference Group report outlined the government's plan to introduce an emissions trading system from July 2012 with a fixed per-ton charge for the first three to five years.

The government may levy a carbon tax of AUD40 or US $42.50 per ton.

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