[Graeme]

Climate change deal stuck on three details: Oakeshott

Key independent Rob Oakeshott says a deal on climate change policy could be struck "in five minutes" if compromise can be reached on three sticking points.

The multi-party climate change committee, composed of Labor, Greens and independent members, is meeting again today without Prime Minister Julia Gillard, who is in Darwin for a community cabinet meeting.

Mr Oakeshott says the sticking points are compensation for polluting industries that rely on exports, compensation for households, and how much of the carbon tax should be funnelled into renewable energy projects.

The Government and Greens have also disagreed about the initial price of carbon, with the Greens saying only a high price - up to $40 per tonne of carbon pollution - would encourage businesses to invest in renewable energy research and development.

The Government's chief climate change advisor, Ross Garnaut, has recommended a starting price of $26 per tonne.

"We're close, but some pretty key issues are under discussion right now," Mr Oakeshott told Sky News.

He said he hoped an agreement would be reached in "a week or two" but would not confirm reports that the Government has agreed to the Greens' demands for more support for renewable energy.

abc

[kiwichick]

hopefully agreement next week

[careinke]

Where does the money come from to compensate the "polluting industries" and households. Also why do you want to compensate the cause of the problem and not the solution? Without excess people and "polluting industries" we would not have a problem. So the answer is to compensate them?

[Graeme]

hopefully agreement next week

Looks like you might be right.

Milne confirms climate talks breakthrough

Deputy Greens leader Christine Milne has confirmed reports of a carbon tax breakthrough, saying the Multi-Party Climate Change Committee is "on track" to have the scheme starting in July next year.

Independent MP Tony Windsor says a deal may be signed off "next week".

It is understood agreement has been reached over the amount of compensation to be paid to industry, and a guarantee the carbon tax will switch to a market-based emissions trading scheme in 2015.

It is believed the Government has agreed to the Greens' proposal for an independent climate change commission to advise on what Australia's 2020 emissions target should be.

abc

smh

[kiwichick]

carbon tax legislation introduced to Australian Federal Parliament by Prime Minister Julia Gilliard

[Graeme]

Australian Lawmakers Will Vote on Carbon Tax Proposal This Week, Swan Says

Australia’s parliament will vote this week to put into law the nation’s first tax on greenhouse gas emissions aimed at cutting reliance on fossil fuels and boosting renewable energy.

“Putting a price on carbon will break the link between emissions growth and economic growth, driving innovation to find better, less polluting ways of producing power, goods and services,” Treasurer Wayne Swan said in a statement yesterday.

The developed world’s biggest per capita polluter will raise A$27.8 billion ($27.2 billion) in three years by making companies pay for carbon emissions, Prime Minister Julia Gillard said in July when unveiling details of the policy.

Gillard pledged before last year’s election that the government wouldn’t adopt a carbon tax, and her approval of the plan has made her Australia’s least-popular prime minister in 18 years, according to opinion polls.

Company executives have said the tax threatens mining jobs and will push up airfares and food prices. The government is offering A$47 billion to assist industry and households and spur renewable energy investment through 2020.

“It’s not an easy reform and I realize it’s got some vocal opponents,” Swan said. “I’m confident that in time more and more Australians will come to recognize how important this decision is for both our generation and those to come.”

bloomberg

[Laromi]

Looking a bit further down the track, can anyone tell me who is set to benefit the most financially from a Carbon Trading Scheme? I don't see that it goes the way of the minions. And, where will the big pockets be placed to accept the pitiful offerings from Australia's potentially non-existent or highly decimated industrial/manufacturing base be? Surely the chase for the philosophers stone is an expensive one, so where does entrepreneurial/venture finance come from, certainly not Australia, and where to Horatio, will the toil of our scientific tinkerers be lost to? I think the only processor/manufacturer still wholly Australian owned is Tassel and Waltzing Matilda has been annexed by our government.

[Graeme]

It’s official: Carbon tax bill passes lower house, but small business still unsure of sector-by-sector effect

Labor managed to pass its carbon tax legislation through the lower house this morning, in a move it argues puts to bed years of fiery debate about how Australia should tackle climate change.
With the bills expected to pass through the upper house, Australia is now on its way to having a fixed price on carbon starting July next year.

The price, starting at $23 per tonne from July 2012, will rise to $24.15 the year after, and $25.40 from July 2014, before changing into an emissions trading scheme with a flexible price.

The passing of the bills, including a $300 million compensation package for the steel industry, was met by applause from the Government, sole Greens MP Adam Bandt and independents MPs.

Council of Small Business of Australia executive director Peter Strong says while the Government has flagged a 0.7% increase in the cost of living, there's still no clarity about how much it will cost individual small businesses.

"Small business wants to know, what will it cost me as a truck driver, as an accountant, as a real estate agent?" Strong says.

"At the moment, we've got a general figure coming out from the Government. That's easy to say, but we need more information."

The Government says under its plan, average household compensation of $10.10 per week will exceed the expected price increase of $9.90 per week. It also says that nine out of 10 households will receive assistance through tax cuts, extra payments or both, and assistance for two out of three households will cover the entire average price rise.

smartcompany

[Graeme]

Australia Senate backs carbon tax

Australia's Senate has approved a controversial law on pollution, after years of bitter political wrangling.

The Clean Energy Act will force the country's 500 worst-polluting companies to pay a tax on their carbon emissions from 1 July next year.

The Senate vote is a victory for Prime Minister Julia Gillard, who had given strong backing to the plan.

Environmentalists have broadly backed the scheme, but there have been large public protests against it.

Opposition parties have argued that the tax would cause job losses and raise the cost of living, and they have promised to repeal the legislation if they win the next election.

bbc