Document summary
The Australian Government’s Climate Committee have named 1 July 2012 as the preferred start date for a tax-then-trade carbon pricing regime. No agreement has been reached on the starting carbon price level, business assistance arrangements or floating price phase arrangements, making valuation impact impossible to quantify. The committee announced a carbon pricing framework starting with a fixed price for 3-5 years, before moving to a floating price. A carbon price will apply to emissions from stationary energy, transport, industrial processes, fugitives and non-legacy waste. Agriculture and land-use sectors could earn offset credits or receive direct funding to reduce emissions.