Author : Elena Aydos
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Book Synopsis What Went Wrong? Lessons from a Short-Lived Carbon Price in Australia by : Elena Aydos
Download or read book What Went Wrong? Lessons from a Short-Lived Carbon Price in Australia written by Elena Aydos and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the world is steadily moving towards pricing carbon, Australia became the first country to discard a mandatory carbon pricing scheme. The Carbon Pricing Mechanism (CPM) commenced on 1 July 2012 and operated until 1 July 2014. The short-lived CPM displayed innovative features and had the potential to achieve its environmental goals without serious harm to the economy. This chapter describes the CPM legal framework, highlighting the transitional phase known as 'fixed charge years' and the implementation of safety valves aimed at ensuring the stability of the carbon price following auction. Further, it discusses the political process leading to the implementation and ultimately the abolishment of the CPM. It concludes that the repeal of the CPM is not justifiable by design or implementation issues. The successes and failures of the scheme provide relevant lessons to countries discussing or planning to implement a carbon price in the near future.