Summaries - Australian Financial Review
Monday 16/2/2009 Page: 3
Prime Minister Kevin Rudd's climate change credentials have been delivered another blow after the Clean Energy Council has claimed the emissions trading scheme would not deliver Labor's election promise of 20% of electricity coming from emissions-free sources by 2020. Business groups, including the Business Council of Australia, have argued the scheme would just raise electricity costs without delivering reductions to emissions. Modellers Intelligent Energy Systems were commissioned by the CEC to assess the scheme and they reported the front loading nature of funding would mean wind energy would garner most of the support to the detriment of emerging technologies geothermal, tidal and solar thermal.
Backed by its own report by McLennan Magasanik Associates, Climate Change Minister Penny Wong said the government would reach its target. Treasurer Wayne Swan has ordered a new parliamentary inquiry to assess how effective an emissions trading scheme would be in reducing greenhouse pollution, a move Minerals Council of Australia Mitch Hooke said appeared to 'fly in the face' of the governments own ETS timetable.
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