Since Australia has pledged to reduce its greenhouse emissions by 5% to 15% by 2020, it unveiled the world’s broadest carbon trading scheme several days ago, turning out business calls for a delay due to the global slowdown.

While Australia is now second only to the European Union in its drive to cut emissions by establishing a cap-and-trade system that puts a price on carbon output, it was said that the target is far from powerfulness and blasted the trading plan that will give free credits to some of the economy’s most carbon-intensive industries.

According to Prime Minister Kevin Rudd, it is essential to implement carbon scheme in Australia, which has the fourth-highest per-capita greenhouse gas Read more…

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Australia, Canberra, carbon, China, economy, plan