Carbon emission policies in key economies

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The Productivity Commission's research report on Carbon Emission Policies in Key Economies has been released by the Government. It indicates responses key economies are taking to reduce greenhouse gas emissions. The report is a culmination of a six month study commissioned by the Government to help it, and the Multi Party Climate Change Committee, consider various issues concerning the introduction of carbon price in Australia.

In conducting the study, the Commission consulted with government agencies responsible for emissions-reduction policies in China, Germany, India, Japan, New Zealand, South Korea, the United Kingdom and the United States, as well as Australia.

The report reveals that there are more than 1000 carbon policy measures in the nine countries studied, ranging from limited emissions trading schemes to policies that support particular types of abatement technology. While these disparate measures cannot be expressed as an equivalent single price on greenhouse gas emissions, all policies impose costs that someone must pay. The Commission has provided a snapshot of the current cost and cost effectiveness of major carbon policies and how these compare across programs within each country and across countries.

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