Inquiry launched into emissions trading scheme

A senate inquiry into the Federal Government’s emissions trading scheme has begun today, called by the Greens and Coalition to examine the design and effectiveness of the scheme.

The Greens have long opposed the Government’s emissions trading scheme, believing the plan would, “undermine existing policies to move Australia to renewable energy, energy efficiency and clean transport, and lock out the option of achieving deep cuts in greenhouse emissions.”

The emissions trading scheme has also been called into question by the Australian Industry Group (AIG), with chief executive Heather Ridout calling for a postponement of the scheme to 2012, believing businesses need more time to prepare.

“[Businesses] can’t make the investment in the emission saving technology because the financials aren’t adding up because of the global financial crisis, and the lack of access to credit and the price of that credit.”

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