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International carbon permits the cheapest option, says CCA

Posted on 07 July 2014

Australia could dramatically exceed its current emissions reduction target for just a fraction of the $2.55 billion the Coalition plans to spend on “direct action” by buying international abatement permits. The Climate Change Authority argues the nation’s emissions reduction target could be increased from 5 per cent to 19 per cent at a cost of just $500 million by buying international carbon abatement units.
The authority, in a report to be released today, finds that international CERs could be bought for just $1.15 a tonne up to 2020. This was significantly cheaper than trying to achieve emissions abatement entirely at home………………………………………..Full Article: Source


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