This report provides an independent analysis of the Australian Clean Energy Legislative Package, which was passed by the Australian Parliament on 12 October, 2011. This legislation sets a carbon price of AUD23 ($23.4) per tonne of carbon from July 2012 for Australia's heaviest emitters; a move that will incentivize greater energy efficiency investment across the Australian economy. We interviewed Australian-based executives from the Carbon Trade Exchange, CarbonSystems and Energetics to fully understand the implications of this package.
The introduction of the carbon price will be accompanied by a AUD10 billion ($10.2bn) Clean Energy Finance Corporation and industry compensation for the most at-risk sectors. In addition, Verdantix forecasts that the Australian corporate sustainability market will grow to AUD3 billion ($3.1bn) by 2014 if the Clean Energy Bill becomes law, with increased spending on upgraded carbon and energy management systems, expanded energy efficiency programmes, investment in green building technologies and corporate cleantech projects.
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