I firmly believe that the engagement of the business sector in fighting climate change is crucial.
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Australia's government was warned on Tuesday against softening a planned emissions trade system expected to hit big corporates and households, with Greens senators saying minor lawmakers could ensure it was still-born. The emissions trade system will begin in 2010 and bring the biggest upheaval to Australia's energy-reliant economy in a generation, with big miners in particular facing rising costs.
The system's government-backed architect, academic economist Ross Garnaut, will release a draft blueprint on how trading could operate on Friday, with analysts looking for recommendations on an overall carbon emissions cap. "The key thing that people want to see is a serious cap on emissions. We're saying that it should be at the top end," said Greens Senator Christine Milne, urging a cut of 40 percent on 1990 emissions levels by 2020.
But consumers, angered by the prospect of higher fuel and electricity costs, are becoming jittery, while a survey of 250 CEOs by the Australian Institute of Management found 80 percent had scant understanding of what the new regime would mean.
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