Anushka Gupta
Country - Australia
Global Warming is the increase of Earth's surface temperature due to effect of greenhouse gases which trap heat in the earths atmosphere. Concern has grown in recent years over the issue of global climate change. Greenhouse gas emissions, which cause planetary climate changes, represent both an environmental
negative externality and the overuse of a common resource. The atmosphere is common to all firms and individuals into which they release pollution.
In many countries environmental protection laws limit the release of local and regional air pollutants. In these situations the government tries to reduce negative externalities, associated with local and regional pollutants, by internalising them. Carbon taxes on energy sources which emit carbon dioxide are set. It is a pollution tax, which some economists favour because they tax a 'bad' rather than a ‘good'. Carbon taxes address a negative externality.
Australia faces significant environmental and economic impacts from climate change across a number of sectors, including water security, agriculture, coastal communities, and infrastructure. These include human health problems caused by air pollution from the burning of coal and oil; damage to land from coal mining and to miners from black lung disease; environmental degradation caused by global warming, acid rain, and water pollution; and national security costs, such as protecting foreign sources of oil.
Since 1910 the average temperature of Australia has risen by about 1-2°C. Although these increases sound small, they have a big impact on the world's climate.
Since 1910 the average temperature of Australia has risen by about 1-2°C. Although these increases sound small, they have a big impact on the world's climate.
Hence for more than a decade, the Australian Government has pursued a range of policies and related initiatives as part of its response to climate change. These operate in conjunction with policies and initiatives implemented at state and territory level.
The election of the Rudd Government in 2007 saw a major change of Australian Government policy through Australia’s ratification of the Kyoto Protocol.
One of the earlier measures that continues today is the Mandatory Renewable Energy Target (MRET) scheme, which has developed into the national Renewable Energy Target (RET) scheme, and targets 20 per cent renewable energy by 2020 for Australia's electricity supply.
The central element of the Government's Direct Action Plan to reduce Australia's domestic emissions is the Emissions Reduction Fund. The Fund is designed to make a contribution towards the target by providing incentives for low-cost emissions reductions across the economy.
Another implementation is the The Land Sector Package. It is a key element of the Government’s comprehensive plan to move Australia to a clean energy future. The Land Sector Package recognises that farmers and land managers have an important role to play in reducing emissions along with governments, households and the wider business community, and creates new income streams for land managers.
Around $1.7 billion will be spent over the next six years through seven specific land sector measures, creating opportunities for rural and regional Australia to benefit from the carbon market. The Land Sector Carbon and Biodiversity Board has been established to provide advice on implementation of the measures.
Australia’s carbon price has also created significant effects and further will.
It will put an economic premium on releasing less pollution for every megawatt hour of electricity generated. A carbon price will narrow the cost differential between electricity from conventional coal-fired generation technologies compared with electricity from natural gas and renewable sources.
How does Australia's Carbon tax works?
Australia, have declined about 3% compared to the 1990 and will reduce its greenhouse gas emissions by five per cent below 2000 levels by 2020. Australia's commitment represents a substantial reduction from business-as-usual. On a range of indicators it is comparable to commitments from other major economies, including the United States, the European Union and China.
Resources:
http://www.acci.asn.au/Files/Government-Carbon-Tax-Plan
http://www.climatechange.gov.au/reducing-carbon/carbon-farming-initiative/carbon-farming-initiative-handbook/clean-energy-future
http://www.environment.gov.au
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