The Minerals Council is finalising a new round of modelling on its preferred approach to emissions trading and has presented interim findings to ministers Wong and Ferguson, council CEO Mitch Hooke told a Senate inquiry today. Meanwhile, Exxon Mobil said it had made representations to more than 50 MPs over the scheme.
A Senate inquiry has commissioned former ABARE chief Brian Fisher to complete an 'independent peer review' of Treasury modelling by the end of January and has lined up the Minerals Council, Exxon, the Aluminium Council and ACCI to speak at a public hearing on Monday.
Australia played a crucial role in ensuring last year's Bali talks concluded with a reference to developed countries making cuts of 25% to 40% by 2020, but you wouldn't know it from comments yesterday by Climate Change Minister Penny Wong. Meanwhile, the Senate yesterday conducted a passionate debate over tax breaks for carbon sink forests.
Climate Change Minister Penny Wong will on December 15 release the Government's medium-term emissions targets and white paper, but it now won't be accompanied by draft legislation. Meanwhile, consideration of a stronger renewable energy target and new energy efficiency measures has been delayed until next year.
Next year's Copenhagen meeting will not be climate policy Nirvana, Australia's climate change chief Martin Parkinson has told CE Daily. In a speech in Canberra yesterday, Parkinson said the nation's emissions reduction target will not be the main driver of economic cost and cautioned that trading will fix the biggest market failure, but complementary measures will still be essential.
The Climate Institute has today taken out ads in major newspapers in a bid to push companies to reveal their positions on the right 2020 target for Australia and their views on what constitutes a safe, long-term global level of greenhouse gases.