: Personal finance news from Parliament House in Canberra

December 16, 2008

Kevin Rudd crafts a politically clever document on emissions trading

Filed under: business, economics, environment, politics, regulation — Alan Thornhill @ 6:38 am

Kevin Rudd believes his own survival takes precedence over the survival of the planet.

The emission reduction targets that he announced yesterday are certainly modest.

The 2020 target is 5-15 per cent below 2000 levels, by 2020.

Five per cent if other countries don’t match our efforts.

Up to 15 per cent if they do.

The government’s White Paper draws comparisons with the targets announced by other countries.

It said this target would leave Australia’s emissions up to 41 per cent below 1990 levels, on a per capita basis, by 2020.

Britain’s target would produce only a 39 per cent reduction, the White Paper says.
Politically, the government’s plan is clever.

It is a declaration that it wants some progress on reducing global emissions.

But the government, clearly, isn’t prepared to die in a ditch over the issue.
Cynics, who expected that Rudd’s plan would be crafted, on political, rather than environmental criteria, are probably the only people who were not disappointed, by what they saw.

Mitch Hooke, the voice of Australia’s mining industry, wanted no emissions targets, at all.

And why would he? The Minerals Council chief speaks for the coal industry, which is a major contributor to nasty global emissions.

On the other side, Greens Senator Christine Milne, says her office has been swamped with calls from protesters, furious at the government’s 5-15 per cent targets, which they regard as a Labor sell-out.

And the Greens are planning a national day of action, to protest at the plan.

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