Carbon Trading in Australia

The federal government of Australia has proposed a law that 20% of the nation’s power supply must come from renewable energy, by 2020.  Some estimates from the alternative energy industry say this will require $60 billion in new investments.

And they’re not alone, as Pacific Hydro CEO Rob Grant explained on a recent edition of ABC Radio National’s Background Briefing:

Europe has endorsed a 20% target, many of the States in the USA have significant renewable energy targets in the order of 20%, and countries in South America where we are also operating have 15% to 20% renewable energy targets, and China has a 20% renewable energy target. So they’re generating a significant amount of demand for new capacity and the capital that’s required to invest in that will indeed be significant.

Australia is the largest, per capita, carbon emitter on the planet.  Which brings us to the role of Carbon Trading, Emissions Trading, Cap and Trade, Carbon Abatement, etc., in the federal governments goal of reducing emissions while pushing for more alternative energy.  The debate over whether 20% by 2020 is a big enough push, and whether or not the government’s carbon trading plan will be effective.

These are just the tip of the iceberg in terms of what is discussed in this program. Highly recommended listening.

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