| Sourced From Ecogeneration.com.au |
Australian businesses will be able to participate in the global carbon market following the announcement of new government measures by Minister for Climate Change Penny Wong.
As part of the measures businesses will be able to trade Kyoto units overseas by opening accounts in the newly established Australian National Registry of Emissions Units.
The Government has also created Australia’s National Authority for the Clean Development Mechanism (CDM) and Joint Implementation (JI), which allows businesses to participate in CDM and JI projects under the Kyoto Protocol.
Senator Wong said that the measures would provide new opportunities for Australian businesses in the emerging global carbon market.
“A robust global carbon market will mean that carbon pollution reductions occur first in the countries and sectors with the lowest-cost abatement opportunities. This reduces the costs of achieving the emissions reductions that the world needs.”
For more information about applying for an account with the Australian National Registry of Emissions Units, or receiving approval for participating in CDM and JI projects, visit www.climatechange.gov.au
