Australia Parliament Passes Carbon Tax Bill

The legislation, which is part of the Australian government’s commitment to tackling climate change, is further proof of just how hot carbon offsetting is right now.
By: jumpingspidermedia
 
Nov. 26, 2011 - PRLog -- The Australian Parliament has passed a controversial new carbon tax bill which could see  around 500 of the biggest polluters in the country having to pay for each tonne of carbon dioxide they emit, reports carbon trading experts London Carbon Credit Company (http://www.londonccc.co.uk/). The legislation, which is part of the Australian government’s commitment to tackling climate change, is further proof of just how hot carbon offsetting is right now.
   
Australia is one of the world’s biggest culprits when it comes to greenhouse gas emissions (on a per capita basis) and it exports the largest amount of coal in the world. The Australian government is facing pressure to help combat the impact of this on the environment and as such has passed a carbon tax bill which is dividing the country. Environmentalists welcome the proposed legislation (the bill of which has already been passed in Parliament), while the opposition claim it will lead to job cuts and raise the overall cost of living. When the Clean Energy Bill 2011 was passed, Prime Minister Julia Gillard said “Today is a significant day for Australians and the Australians of the future who want to see a better environment”.
   
According to the new legislation, 500 of Australia’s biggest polluters will be forced to pay A$23 for every tonne of carbon emissions. The government claims that any subsequent cost increase to consumers will be offset – that nine out of ten households will be compensated through tax cuts or welfare increases. The tax will come into force on 1 July 2012 and will then evolve into trading emissions schemes within three years.
   
Trading carbon has never been more popular, both for individual carbon offsets and for green investments. London Carbon Credit Company offers clients carbon investment opportunities which are at the vanguard of the industry. To find out further information, visit http://www.londonccc.co.uk/.
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Source:jumpingspidermedia
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Tags:Carbon Trading, Trading Emissions, Trading carbon, Carbon Offsets, Green Investments
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