Friday, July 30, 2010

China To Put Price On Carbon

When looking for excuses for doing nothing about climate change, one poitician favourite is the one about waiting for the rest of the world. Apart from being illogical, it's also becoming more and more misleading. In addition to India putting a tax on coal, now China is preparing to start an emission trading scheme.

The move is described as "essential" and industry experts said that putting a price on carbon is crucial for the country. Interestingly, administrative measures (or what some Australian politicians call "direct action") have been found to be less cost-effective than simply putting a price on carbon.

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