Australian carbon tax

Topics: Greenhouse gas, Global warming, Carbon dioxide Pages: 12 (3885 words) Published: February 2, 2014


AUSTRALIAN CARBON TAX: THE IMPACT ON THE ENVIRONMENT

Subject: Currant Business Issues (LB5214)
Lecturer: Ian Kirkwood
Student: Nadezda Razzhivina (12793027)
Due date: 10/05/2013

Executive Summary

The purpose of this business report was to explore the impacts of carbon dioxide on the Australian Environment, how it can affect different areas (e.g. water, agriculture, biodiversity, coastal development and human health) and how greenhouse emissions can be reduced. The main idea was to improve the understanding and figure out the relationship between climate, natural and human systems. Research for this report included a review of current academic literature, journals and statistics.

The major findings indicate that the impacts of climate change are already clearly visible in Australia. It was figured out as well that, human activity and the development of industrialization is one of the main reasons of climate change. The impact of these changes, which are due to a combination of natural variability and changes in greenhouse gas concentrations from human activities, can now be clearly seen in stresses on our water supplies and farming, changed natural ecosystems, coastal impacts, and reduced seasonal snow cover. Furthermore, we explored the impact of GHG emissions on the areas, which are considered to be the most susceptible to climate change, such as water, agriculture, biodiversity, coastal development and human health.

At the conclusion, it is important to say, this carbon tax is a right way to improve situation, because as a result GHG emissions can be reduced. Moreover it can stimulate the use of sources of energy and develop new technologies.

Table of Contents

Executive Summary
Introduction
Background
Why carbon tax is an issue in Australia (Issues & Problems)? Discussion
Conclusion
Recommendations
References

Introduction

As you know, Australia introduced a so-called carbon tax, which entered into force on 1 July 2012. The main purpose is to make 500 of its most serious environmental pollutants among companies to answer for its detrimental effects. Pollution charges will amount to A$ 23 for each ton of carbon dioxide released into the atmosphere. These actions were provided by national plan in order to reduce greenhouse emissions. Australian Prime Minister Julia Gillard believes that despite the deep unpopularity of introducing a carbon tax, the reform would then be accepted by society as a right step in the protection of the environment and the welfare of society. The most important fact that Australia is one of the largest "supplier" of greenhouse gases in the world because of its strong dependence on the energy sector. "We produce the per capita emissions are many times more than any other country in the developed world" - Gillard stated in an interview to journalists in Canberra, where the details of the tax were announced. - "We have a lot of work in the environmental race, in which now remains the rest of the world". The government hopes that the companies that will suffer from the new tax, will look for ways to reduce their costs, first and foremost due to the use of renewable and clean energy. Polluting companies will pay A$ 23 per metric ton of emissions, and the price will increase by 2.5 percent per year, until a transition to an emissions trading scheme in 2015–2016, where the available permits will be limited in line with a pollution cap. The pricing is part of a broad energy reform package called the Clean Energy Plan, which aims to reduce greenhouse gas emissions in Australia by 5% below 2000 levels by 2020 and 80% below 2000 levels by 2050. According to estimates, introduction of the tax will reduce carbon emissions by 160 million tons, which is equal of rejecting 45 million cars. Critics...

References: Andrew, B., Kaidonis, M. A., Andrew, J. (2008). Pollution taxes to protect the environment. Asia Pacific Journal of Taxation, 12(2), 67-76.
Australian Bureau of Statistics. (2010). Australia’s Environment: Issues and Trends. Retrieved from AusStats: http://www.abs.gov.au/ausstats
Beder, S. (2008). Too much faith in the market. Online opinion: Australia’s e-journal of Social and Political Debate, 9. Retrieved from http://www.onlineopinion.com.au/view.asp?article=7640
Carbon Market Data. (2009). Press release. Retrieved from : http://www.carbonmarketdata.com
Cleugh, H., Smith, M. S., Battaglia, M., Graham, P. (2011). Climate Change. Science and Solutions for Australia. Collingwood, Australia: CSIRO Publishing
Garnaut, R. (2008). The Garnaut Climate Change Review. Retrieved from http://www.garnautreview.org.au/2008-review.html
Hamphreys, J. (2007). Exploring a Carbon Tax for Australia. NSW, Australia: Centre for Independent Studies Limited. Retrieved from http://institutoliberdade.org.br/ingles/arquivos/ExploringAustralia.pdf
Wysham, D. (2008). Carbon Market Fundamentalism. Multinational Monitor, 29, 28. Retrieved from http://www.search.proquest.com.elibrary.jcu.edu.au/docview/208858599
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