China To Start an Emissions Trading Scheme in June

Tony Abbott’s deceit on climate change has been exposed again with China’s announcement that the first of its seven pilot emissions trading schemes will commence on 17 June this year. Covering 635 companies, the Shenzhen emissions trading scheme will cover more companies than Australia’s carbon price.

The seven pilot schemes will precede a nationwide Chinese emissions trading scheme – potentially the largest in the world once up and running. Yet Mr Abbott has run around the country claiming that China is doing nothing to reduce emissions or put a price on carbon.

As China goes about developing a national trading scheme it is drawing on Australian expertise. The Australian Government has been working closely with China to share information on the design and implementation of emissions trading schemes.

Last month China provided the World Bank with detailed plans for developing and implementing its national emissions trading scheme.

China recognises the threats posed by climate change and has pledged to reduce the carbon emissions intensity of its economy by 17 per cent of 2010 levels by 2015 and by 40 to 45 per cent below 2005 levels by 2020.

For the past three years Mr Abbott has mislead Australians about a price on carbon and the action being taken by countries around the world to tackle dangerous climate change. Recently he has been joined in this crusade by his Liberal candidate for Bass Andrew Nikolic.

Mr Abbott and Mr Nikolic must stop making misleading statements.

A price on carbon is the economically responsible way to address this environmental threat.  This is why Mr Abbott will not and cannot repeal Australia’s price on carbon.

In Bass we have already seen revenue from the carbon price being invested in clean and renewable energy and supporting local business.  As part of the Clean Technology Food and Foundries Investment Program, the Gillard Government has provided a vital grant to Naturale Pty Ltd. Naturale will upgrade equipment at its Ringarooma stockfeed supplement manufacturing plant by replacing the colloid mill with a larger unit so that the ingredients can be emulsified with less water, installing a heat recovery system and upgrading the conveyor belt. The project is expected to reduce Naturale’s site wide carbon emissions intensity by 46% and will enable the product to be manufactured at a lower overall cost.

In addition to this, Definium Technologies Pty Ltd has received grant funds via the Clean Technology Innovation Program.  Definium will develop an affordable energy monitoring and management system for commercial buildings and facilities, to be known as the Mediator, a powerful computer that can read and control separate systems in a building. The Mediator will allow owners or users of commercial buildings or facilities to better understand and identify their energy usage.

The world is moving to a low carbon future and Australia cannot afford to be left behind. Only Labor has a plan that supports jobs, assists household and helps grow the economy while reducing carbon pollution.