Summaries - Australian Financial Review
Thursday 22/10/2009 Page: 8
A group representing some of the nation's largest investment funds criticised the coalition's package of emissions trading scheme amendments and warned that further protection for big polluting industries would move costs to other sectors of the economy. Yesterday, the Investor Group on Climate Change (IGCC) rejected claims that the government's scheme may hurt secure electricity supplies by forcing the closure of some coal-fired power stations.
Australian Pipeline Industry Association chief executive Cheryl Cartwright says that while long-established industries need time for adjustment, any delay in switching to natural gas for power delays the reduction of greenhouse gas emissions. Hostilities over the ETS have entered a different phase as the government and the coalition start negotiations on a potential compromise that may see the ETS be passed by the Senate in November. The IGCC represents members such as Colonial First State Global Asset Management, BT Investment Management and AMP Capital Investors and believes there may be a risk of windfall gains to intensive, trade exposed industries. The IGCC says investors such as owners of existing assets and new entrants will not desert the energy market.
0 comments:
Post a Comment