The NSW Government should fast-track an energy efficiency trading scheme and should make it clear that neither power generators or energy retailers will be indemnified for their carbon liabilities, says today's report of the advisory committee reviewing the state's power station privatisation plans.
It would be the start of in-home automation – networking appliances so that they can be controlled centrally, or even remotely. And, done in the right way, the potential economic and greenhouse gas abatement benefits would be huge, according to cost-benefit studies just released by the Ministerial Council on Energy.
Rolling out smart electricity meters to nearly all Australian homes and businesses could deliver a massive 36 million tonnes of abatement over 20 years, the studies say. The move could also have a net benefit of more than $4 billion over that time. Energy ministers will consider the findings – and the merits of a rollout – at their next meeting.
Designers of emissions trading schemes seem unable to see the wood products for the trees, NSW government research officer Fabiano Ximenes has told ABARE's Outlook 2008 conference.
Although carbon sink forests are recognised as offsets, no scheme in the world yet recognises carbon stored in timber. Yet research by Ximenes shows much of this carbon remains stored for "at least 100 years". He says Australia's emissions trading scheme should value this major benefit and a new research project could show how to do it.
Premier Paul Lennon yesterday laid out in state parliament a climate change strategy which will see Tasmania become the second Australian state to mandate a 60% emissions cut by 2050 and which will also introduce a state-based carbon offsets scheme.
Meanwhile, the Garnaut Review has put back by one week the release of its emissions trading paper and rescheduled Professor Garnaut's speech on trading.
Queensland's climate change strategy is less than a year old, but new scientific findings and the changing policy landscape mean it must be updated, says state climate change minister Andrew McNamara. Plus:
* South Australia poised to mandate efficiency action by energy retailers
* I've got an open mind on container deposit schemes, says Victorian Premier
* Engineers throw their support behind Garnaut
Timber industry association says it's time to consider 'carbon miles' * Garrett issues first EPBC Act remediation order, demands $250,000 bond * California government told – 'if you want 80% cuts be cautious about permit give-aways and borrowing, and think twice about a price safety valve'
* South Australia doubles container deposit levy * WWF urges Australia to boost protected lands to 15.5% by 2010 * NSW environment department issues business video clips * Energy agency updates renewables and energy efficiency policy databases * UN Secretary-General – 'now the real work begins'
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