Australia cut carbon dioxide emissions from its electricity sector by as much as 17 million tonnes because of the carbon price and would have curbed more had industry expected the price to be perma
Switzerland threatened on Monday to raise its tax on greenhouse gas emissions from the energy sector by 40 per cent if companies regulated by the country's emissions trading system do not meet gove
Australia, this year's G20 chair, sees little consensus among the Group of 20 leading economies to take major new steps on climate change, senior official Heather Smith said on Wednesday.
Prime Minister Tony Abbott reintroduced legislation to the Australian Parliament on Monday that would repeal a carbon tax that the nation’s worst greenhouse gas polluters have to pay.
The current generation has to set mitigation policy under uncertainty about the economic consequences of climate change. This uncertainty governs both the level of damages for a given level of warming, and the steepness of the increase in damage per warming degree. Our model of climate and the economy is a stochastic version of a model employed in assessing the US Social Cost of Carbon (DICE). We compute the optimal carbon taxes and CO2 abatement levels that maximize welfare from economic consumption over time under different risk states.
The UK's conservative climate and energy minister has rejected suggestions his government could form an alliance of "like-minded" nations with Australia to oppose carbon pricing.
