Australia to start carbon trading in 2010
Australia's carbon trading scheme will be up and running by the middle of 2010, according to a statement made by the Australian government minister for climate change and water, Penny Wong, at the Poznan climate change negotiations last week.
The scheme will cover three quarters of Australia's emissions and aims to cut greenhouse gas emissions by 5-15% by 2020 from 2000 levels, with a long-term aim of reducing emissions by 60% by 2050 from 2000 levels, according to a white paper released by the Australian government today.
Wong said in her statement that reaching the proposed targets would prove challenging, considering that Australia's
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