News Limited
August 16, 2006 11:38am
THE Australian Conservation Foundation (ACF) has backed plans for a state-based national emissions trading system. The cap and trade scheme would allow large amounts of emissions to be traded between companies for money.
It sets a national target of emissions for the three main polluting gases - carbon dioxide, methane and nitrous oxide. Economic modelling for the scheme estimates it would add between $1 and $3.20 to weekly household electricity bills.
"An emissions trading scheme is an important plank of any serious response to global warming," ACF spokeswoman Monica Richter said in a statement. "At the moment it's cheaper to pollute than not damage the environment. Financial penalties to ensure polluters clean up their act can change this."
Ms Richter said placing a price on carbon would provide the right price signal to industry to invest in cleaner technologies other than dirty coal fired power stations. "It will help our economy become more efficient and drive investment in renewable energy," she said.
"While there might be a modest rise in electricity prices when we put a price on greenhouse pollution, we can more than offset these costs by adopting more energy efficient practices which will mean that our overall energy bills will go down, not up.
"Efficient appliances, lighting and insulation can dramatically cut energy bills and make homes more liveable," Ms Richter said. "In any case, no one thinks saving the planet will cost nothing."
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