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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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Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- Parliament of New Zealand
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Planning Commission, India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
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