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13 August 2009

Carbon Pollution Reduction Scheme voted down

After months of speculation it has finally happened, today the Senate voted against the legislation that would implement the Carbon Pollution Reduction Scheme.  So once again we wait for action on climate change.

At Greenfleet we believe this rejection provides an opportunity to redress flaws within the scheme design, particularly those related to the recognition of voluntary action outside of the mandated carbon market and the generation and measurement of forest sinks.

It is important that this vote is not seen as a win for big polluters, but an opportunity to develop a more robust emissions trading scheme and one that better integrates with and stimulates other measures to reduce greenhouse gas emissions.