Professor Ross Garnaut this morning handed to Prime Minister Kevin Rudd an all-embracing set of policy proposals to combat climate change. Garnaut warned that a failure by this generation to deal with climate change 'would haunt humanity until the end of time'.
The Federal Government should double the size of its Green Car Innovation Fund to $1 billion if it proves successful, recommends the Bracks review of the automotive industry. The review, released today, backs including transport in the emissions trading scheme, but warns that imposing vehicle emissions targets as well would be 'overly burdensome'.
Governments must be more active in crafting policy responses that deal with the task of reducing greenhouse gas emissions and face up to the risk of increasingly scarce and costly oil supplies, warns a new report based on CSIRO modelling of a range of emissions trading and oil price scenarios.
It's Labor's first commitment period – with the Rudd government last night setting out where its climate change and environment cash will be spent over 2008-2012. New Budget climate measures will get $341.6 million in 2008-09 and a total of $2.3 billion over 2007-08 to 2011-12.
Meanwhile, Treasurer Wayne Swan says the review of the tax system – due to report by the end of 2009 – will 'look at the role to be played by environmental taxes'.
CE Daily looks at where the money will go and guides you through the maze of Budget papers.