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ETS link to EU is an international response to a global problem



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STATEMENT

28 August 2012

ETS LINK TO EU IS AN INTERNATIONAL RESPONSE TO A GLOBAL PROBLEM

My position on floor pricing and international linking is well known, and I therefore welcome today’s announcement.

Through international linking, Australia further demonstrates it is doing its part in answering a global science question through a global economic response.

In the coming decade, linking to the EU and other emissions trading schemes will see a direct national benefit through larger trading markets, a more stable permit price, and easier options for business to trade across borders.

The decision not to bring in a domestic carbon floor price is a significant one, and demonstrates an important focus on linking Australia’s trading scheme to the markets of other major developed countries.

It is therefore a very positive development, and today’s announcement protects our emissions trading scheme from some very difficult decisions into the future.

I congratulate officials from Australia and the 30 nations participating in the European Union’s emissions trading scheme on striking today’s agreement.

Once again, I invite business to fully participate in the emissions trading market, and I invite the innovators and entrepreneurs of Australia to develop products in natural resource management in response to the policy and the science behind the policy.

ENDS

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