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Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
 COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global climate change is one topic that has now taken very serious dimension but hardly been realised in a serious enough way by the nations across the world.
Climate change effects have noticed frequent catastrophes, such as severe drought, heavy rains cycles, cloudbursts, longer and more extreme heat waves, spread of tropical diseases such as SARS and bird flu, damage to vegetation and agricultural systems due to pests, and threats to coastlines and proper due to higher sea levels and strom surges, extreme weather events and prolonged droughts will continue to lead to increased injury, illness and death.
Continued warming temperatures will also increase the number of malaria and dengue fever cases and lead to an increase in other infectious diseases as a result of poor nutrition due to food production disruption.
It threatens to bring more famine and drought, worse pandemics, more natural disasters, more resource scarcity, and human displacement on a staggering scale," Asian and developing countries should take the lead in this regard by moving the UN to pass a resolution to put in place an effective and strong mechanism to urge the countries to curb the production of greenhouse gases and also help the developing ones to find technological solutions to help reduce the production of these gases in the process of industrial development and take steps to effectively control this potentially dangerous development.
Although issue of climate change and global warming are fairly high on the agenda of most governments, but in practice, across nations, there is a wide variation in policy response to the emerging threat. This is not surprising because different countries have different priorities depending on their state of economic progress. Governments, especially in major emerging economies, are forced to strike a balance between domestic compulsions - poverty alleviation, for instance - and policies that help combat climate change.
Obviously, it is a political call that governments take. Responsible and responsive policymaking will surely have to take into account threat perceptions of climate change; but that can hardly qualify to be any country's single point agenda. If any country accept sustainable growth and development as the way forward, it subsumes the climate change issues.
At the same time, no country can ignore the inherent contradiction in the expression "sustainable growth". Growth essentially involves exploiting natural resources for human benefit and countries have to strike a delicate balance between environmental sustainability and economic growth. It is easier said than done. As the climate issue impinges on everyone, wisdom demands that nations sink their petty differences in approach and strategy to stem the danger from spreading further and squeezing the survival prospects of one and all. Principally, the efforts boil down to reduction of greenhouse gas (GHG) emission, caused primarily by accelerated economic development through exploitation of fossil fuels rich in carbon dioxide.
Environmental changes: Australia
Most people now agree that Australia’s climate is changing. In Australia the number of record hot days has doubled over the last 50 years. In 2011 Australia experienced bush fires and some of the worst floods in country for centuries when Brisbane got devastated and other areas all throughout Queensland went under water. Scientists also now know that oceans have risen 20cm in the last 200 years. If they go another 20cm then this would wipe out island communities and cause flooding to some major centres. The carbon emissions, greenhouse gases and deforestation is contributing to these environmental changes.
Carbon Tax
Australia has introduced its highly controversial carbon tax, after years of bitter political wrangling. Carbon tax in Australia effective from 1st July 2012 will penalize (tax) big polluters for carbon emissions at a flat rate fee of $23 per tonne of emissions. After a 3-5 year period it is proposed that the pay per tonne system will change to a cap and trade system whereby emissions are capped at a certain level and big polluters will have to buy permits from lower carbon emitting businesses if they wish to increase their emissions. This is otherwise known as carbon credits trading. Carbon tax has taken various forms in different parts of the world based on unique economic circumstances and tax systems.
The top 500 emitters will be charged a flat rate fee of $23 per tonne of emissions by the government in the first year, beginning 1 July 2012.The $23 per tonne is to be indexed to inflation and will rise to $24.15 in 2013-10 and $25.40 per tonne in 2014-15. From the 1st July 2015 the price paid per tonne will be set by the market via a cap and trade system The main objective is to cut Australia’s carbon emissions by 5% by 2020. Major industries affected include electricity and energy producers, mining, business transport, waste and industrial processes.
A price on carbon will not apply to fuel for off-road and on-road light transport by agriculture, forestry and fisheries. Households and small business will also be exempt from a carbon price on fuel. Although a 6c reduction in the off-road diesel fuel rebate will cause general pain for junior miners and for rural and regional business.
Carbon Tax Revenue
Carbon Tax Revenue will be reinvested into clean energy technology and renewable energy projects. Offshoot development funds will also be set up to focus on biodiversity, low carbon agriculture, small business grants and indigenous communities. The government has promised to compensate 90% of households for any increase in energy bills via tax cuts or increases to family benefits.
Carbon tax is essentially an indirect regressive tax (tends to hurt lower income earners). Carbon tax is expected to raise some $15 billion in government revenue which assist with the ongoing Global Financial Crisis .. It is designed to change how manufacturers go about their business, that is to reduce their emissions so they don't pay tax and it is designed for us, the consumer to change how we consume non renewable energy such as electricity.
1.The Government of Australia is planning that $13-$15 billion dollars will be reinvested into developing green energy technology which is proposed to further reduce emissions. Businesses are encouraged therefore to invest in renewable energy such as solar as well as create a whole new industry of jobs.
2.The Australian Government has pledged to compensate Australian households with nearly half the revenue generated by the carbon tax. Those who earn more will get less. Further 9 out of 10 Australian households will be given cash bonuses to offset price increases and the pension will be increased.
3.As mentioned above the 500 biggest polluters will initially pay $23 per tonne of carbon emissions then after 3-5 years the market will set the price. Businesses are in the game of increasing revenue and decreasing costs. So carbon pricing is designed to get businesses to innovate to find a way to reduce their emissions. No doubt there will be some polluters who will pass on the cost of their extra tax to consumers. But with the majority of consumers now being more environmentally conscious products of the biggest polluters will be more competitive if they are cleaner and greener. There will also be tax incentives for farmers in the form of carbon credits that will offset tax payable. This depends on appropriate investment in capital to reduce emissions.
4. The Australian Government has set a target of reducing carbon emissions by 5% from 2000 to 2020.
5.Revenue will be used to protect Australia's fauna and flora for further protection of fragile and endangered ecosystems.
The government says the tax is needed to meet climate-change obligations of Australia – the highest emitter per-head in the developed world, but the opposition argues that it a “Toxic Tax” is expensive and unnecessary that will cost jobs and raise the cost of Living. Entire carbon tax is a scam and a monumental fraud which does nothing to help the environment. As per many leaders against implementation of Carbon Tax , the western companies make billions from seizing land and using it to grow trees in return for lucrative carbon credits which are then sold to companies under carbon tax schemes like the one passed in Australia.
The national and international carbon market is set to change dramatically over the next few years and Australia’s Carbon Tax is a significant part of this transition – organizations must adapt and prepare for a carbon constrained future.
Climate change is a tricky subject to discuss and it's effect on the climate much debated. But the carbon tax is very real, it is now here in Australia and it will affect all Australians. It is known fact that deforestation , carbon emissions , and greenhouse gases in contributing to Global warming and Climate Changes.
By : Sunil K Kumbhat , Jodhpur( Rajasthan) India.
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Monday, 08 January 24
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Friday, 05 January 24
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Friday, 05 January 24
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India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Planning Commission, India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
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- Australian Commodity Traders Exchange
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- Ministry of Transport, Egypt
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- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
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- Global Business Power Corporation, Philippines
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- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
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- Coal and Oil Company - UAE
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- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
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- PetroVietnam Power Coal Import and Supply Company
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- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
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- Sakthi Sugars Limited - India
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- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
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- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
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- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
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- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
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- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
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