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Australia May Pay A$14 Billion Without Carbon Price, Review Says
2010-11-25 20:20:37.302 GMT
By Nichola Saminather
Nov. 26 (Bloomberg) -- Australia's government faces a A$14
billion bill to meet its lowest emissions targets if it doesn't
implement a carbon price, the Australian Financial Review said,
citing a report by the Climate Institute to be released today.
This would be the cost of buying carbon reductions
internationally to cut emissions by 5 percent below 2000 levels
by 2020, according to the report. If Australia raises its target
to 15 percent, the cost rises to A$18 billion, the newspaper
said. A carbon price of A$30 per tonne of emissions rising to
A$50 by 2020 would eliminate these costs and raise A$3.6
billion, the report said.
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To contact the reporter on this story:
Nichola Saminather in Sydney at +61-2-9777-8613 or
nsaminather1@bloomberg.net
To contact the editor responsible for this story:
Tim Smith at +61-2-9777-8678 or
tsmith58@bloomberg.net
