Summaries - Australian Financial Review
Thursday 15/1/2009 Page: 46
While the financial crisis will be the most important policy platform for the Rudd government this year, climate change will be the most important for the next 50 years. The government suggested in a white paper released before Christmas a 5 percent emissions target for 2020 and additional compensation for heavy emitters than recommend by Ross Garnaut. Reserve Bank of Australia board member Warwick McKibbin has argued that emissions trading scheme architecture can only work with significant changes, including a longer term policy. Access Economics co-founder and former Treasury officer Geoff Carmody has argued the focus on emissions permits for production is flawed.
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