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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, 24 June 24
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Friday, 14 June 24
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Thursday, 13 June 24
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- Straits Asia Resources Limited - Singapore
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- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Planning Commission, India
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- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
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- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
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- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
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- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Cement Manufacturers Association - India
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- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
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- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
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- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
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- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
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- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
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- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
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- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
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- Bhushan Steel Limited - India
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- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
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- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
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- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
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- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
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