Left Field

Headline: Supporter to benefit

Australian Financial Review, pg 7. John Breusch. 6 May 2009.

Prime Minister Kevin Rudd's changes to the emissions trading legislation have caused mixed reactions in the business community. The deferment of the emissions trading scheme (ETS) to 2011 was announced on Monday by Mr Rudd and Climate Change Minister Penny Wong. Mr Rudd gained the support of some business and environment organisations, such as the Business Council of Australia, the Climate Institute, the Australian Conservation Foundation, and the Australia Industry Group. The Australian Chamber of Commerce and Industry has welcomed the changes but said the scheme will still be risky for the economy. Even less positive over the scheme is the Minerals Council of Australia, which warned that mining companies will need to raise billions of dollars each year to pay for permits. Opposition emissions trading spokesman Andrew Robb said that the service sectors 'of course' see no downside in going forward with the ETS.

Headline: ETS will be a downer on the farm: study

Australian Financial Review, pg 8. Sophie Morris. 5 May 2009.

The Centre for International Economics says emissions trading will dramatically reduce farm incomes, with the research, for the government's Rural Industries Research and Development Corporation, finding that livestock farmers will be hardest hit. The National Farmers Federation yesterday supported the Government's decision to delay the introduction of the emissions trading scheme by a year.

Headline: Feel-good fund wastes $26m, say critics

Australian Financial Review, pg 8. John Breusch. 5 May 2009.

The Federal Government has been accused of squandering taxpayers' money after it pledged $26 million to establish a scheme that provides a system for individuals to make tax deductible purchases of carbon permits. Critics including Australian Institute executive director Richard Denniss said household efforts taken to cut carbon pollution would free up permits for industry to boost its emissions. Australian National University economist Jack Pezzey has criticised Mr Denniss's concerns on voluntary action as a distraction.

Headline: Rudd's climate compromise

Australian Financial Review, pg 1. John Breusch. 5 May 2009.

Prime Minister Kevin Rudd yesterday announced sweeping changes to the proposed emissions trading scheme and delayed its commencement until 2011. Business concerns over the impact of the scheme and the impact of the economic crisis were cited by Mr Rudd as the primary reasons behind the decision. But in recognition that the government's greenhouse targets were too weak, Mr Rudd said he was prepared to cut emissions by 25 percent by 2020. Opposition Leader Malcolm Turnbull described Mr Rudd’s move as a humiliating backdown’ and reiterated the coalition was not yet prepared to vote for a scheme. The Minerals Council of Australia said the delay was 'little more than a temporary stay of execution for thousands of mining jobs.' The Business Council of Australia and Australian Industry Group urged the government to finalize the policy this year.

Headline: Wong seizes on US climate vow

Australian Financial Review, pg 4. Lara Tingle. 29 April 2009.

Climate Change Minister Penny Wong is said to be using a new commitment by United States President Barack Obama on fighting climate change to put pressure on the Senate to pass the Government’s emissions trading laws. Senator Wong met the president in Washington yesterday during a forum which is designed to lead onto the United Nations climate change talks in December. It comes after US Secretary of State Hillary Clinton told the Major Economies Forum on Energy and Climate that the US administration was fully committed to tackling climate change. Domestic opposition members have questioned whether the Senate should pass the Government’s legislation.

Headline: New climate spurs debate

Australian Financial Review, pg 10. John Breusch. 23 April 2009.

Independent senator Nick Xenophon, whose vote will be crucial if the government is to push its emissions trading scheme (ETS) legislation through parliament in the coming months, said he would continue to push for a cap on the amount of greenhouse pollution produced for every dollar of gross domestic product, as opposed to a cap on overall emissions. Xenophon has long pointed to the example of Canada, which has championed intensity targets. But this is at odds with a report released this week - the National Roundtable on the Environment and the Economy- which advises the Canadian Harper government to switch to an ETS-style system.

Headline: Defeat of ETS will hurt globally

Australian Financial Review, pg 3. John Breusch and Mark Skulley. 21 April 2009.

The Federal Government has faced a backlash against its push in the Senate to boost support for the emissions trading scheme (ETS). The Opposition and business are calling for the scheme to be delayed until after the downturn and the end of Copenhagen talks in December for a global warning agreement. Climate Change Minister Penny Wong said momentum could falter if there is a delay, destroying efforts to create a global greenhouse agreement. Ms Wong used a speech delivered to the Lowy Institute in Sydney to outline her arguments, including examples in the United States where lack of congress support led the nation to withdraw support for the Kyoto Protocol. But Opposition emissions trading spokesman Andrew Robb said the US and China would determine policy on global emissions, not Australia.

Headline: Business divided on climate change

Australian Financial Review, pg 7. John Breusch. 20 April 2009.

The Federal Government is preparing to introduce its emissions trading scheme (ETS) legislation into parliament, as business opposition to the ETS grows due to the economic crisis and fears of job losses. Hydro Aluminium Kurri Kurri, which is owned by Norway's Norsk Hydro, said that a planned $4 billion expansion of its Hunter Valley-based smelter would have to be abandoned if the ETS went ahead as is, with a 20 percent renewable energy target. Westpac Banking Corporation, however, did not believe the economic downturn was sufficient reason to change the scheme, saying its was designed as a market-based mechanism and has 'significant safety valves and price buffering measures in place to respond to current economic conditions.' Climate Change Minister Penny Wong goes to Washington this week to attend the Major Economies Forum on Energy and Climate.

Headline: Senators slam climate plan

Australian Financial Review, pg 8. John Breusch. 17 April 2009.

The Greens and independent senator Nick Xenophon have joined the coalition in attacking the Rudd government's emissions trading scheme. The criticisms are contained in the final report of the senate economics committee inquiry into the emissions trading legislation. Greens climate change spokeswoman Christine Milne and Senator Xenophon have refused to say whether they would vote for or against the legislation.

Headline: Garnaut gives ETS critics fuel

Australian Financial Review, pg 3. John Breusch. 17 April 2009.

Economist Ross Garnaut said yesterday at a Senate inquiry that the Emissions Trading Scheme (ETS) proposed by Kevin Rudd’s government was flawed and without significant changes, such as deeper emissions targets, it may be better to have no scheme at all. ETS legislation, that the government wants passed by the end of June, was the topic of a meeting on Tuesday between Climate Change Minister Penny Wong, who rejects Professor Garnaut’s assessment, Greens leader Bob Brown and Christine Milne. Criticism of ETS has also come from senators Nick Xenophon and Steve Fielding of Family First.