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Australia to unveil carbon price scheme this week

Sun, 07/03/2011 - 5:25pm
Reuters

CANBERRA (Reuters) - An Australian carbon price scheme putting a tax on emissions and outlining a transition to emissions trading around 2015 will be unveiled later this week, the deputy leader of the influential Greens Party said on Monday.

Christine Milne also backed reports that the minority Labor government had agreed to set-up a multi-billion dollar fund to aid renewable energy investment under the scheme, helping counter a promised exemption for petrol opposed by the Greens.

Uncertainty over the fate of the policy, which would tax carbon emissions from next year, has begun to frustrate investment decisions, particularly in the coal-fired power industry and in renewable energy and plantation forestry.

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