It’s charades all round. Carbon markets are so dismal that the World Bank marks up the Australian ETS (which most Australians have never heard of) as “implemented”. Which makes it so much better than Canada’s which is “under consideration”. In fact the World Bank says Australia’s ETS covers half our emissions and 381 Megatons of CO2 or equivalent. Sounds “impressive”.
Strangely the Australian government hasn’t run an advertising campaign to brag about our landmark ETS legislation. I can’t think why? Perhaps it’s because Australian’s gave the largest victory in 20 years to a man who swore a blood oath against a carbon tax? Or maybe it’s the polls that show Australian’s don’t want to pay for renewables, 80% don’t donate to environmental causes, and 60% don’t want or don’t care about the Paris deal if they could get cheaper electricity.
Let’s poll Australians and ask ‘Do we have an ETS?” — maybe 80% would say “No”. Maybe ninety. But we do have one, waiting like a paper troll, ready to spring to life. It’s largely secret hidden legislation, buried under a title called the ERF Safeguard Mechanism — (don’t mention [...]
