Carbon Market Unofficially Begins in Australia
May 20, 2008 11:38 AM | Posted by Patrick Greissing | Topic(s): International Policy/Programs
, Carbon Markets
With the sale of 10,000 tons of "permits to pollute" from AGL Energy to Westpac, the carbon market has unofficially begun in Australia. The price per ton of carbon in this sale was $19. AGL Energy said in a statement that the sale would take place in 2012. The official emissions trading scheme is not set to begin in Australia until 2010. Dr. Beck, chairman of the information and business networking firm Asia-Pacific Emissions Trading Forum, said, "It really marks the beginning of trading directly linked to an Australian emissions trading scheme. It's demonstrating confidence that the scheme will be established." Dr. Beck said the reason behind buying and selling permits now is a way to minimize risk and establish the price of carbon.