Australia is setting the world’s highest price on carbon emissions as it seeks to avoid mistakes made when Europe started the biggest cap-and-trade system seven years ago. The country of 22.5 million people, with the most emissions per capita among developed nations, will charge almost 300 of Australia’s largest polluters a fixed price of A$23 ($23.15) a metric ton for their greenhouse gases for the year starting July 1. European Union carbon allowances closed yesterday at 7.97 euros ($10) a ton on London’s ICE Futures Europe exchange.
Thursday, June 28, 2012
Carbon Errors Make Australia Wiser as Gillard Sets Price Record
Australia is setting the world’s highest price on carbon emissions as it seeks to avoid mistakes made when Europe started the biggest cap-and-trade system seven years ago. The country of 22.5 million people, with the most emissions per capita among developed nations, will charge almost 300 of Australia’s largest polluters a fixed price of A$23 ($23.15) a metric ton for their greenhouse gases for the year starting July 1. European Union carbon allowances closed yesterday at 7.97 euros ($10) a ton on London’s ICE Futures Europe exchange.
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