The next Australian Federal election will be held in just under six months. One of the key issues likely to be ventilated in the lead up to the election is Australia's policy response to climate change. Australia currently has a price on carbon which started on 1 July 2012 and was introduced through the Clean Energy Act, however if the Coalition win power they have vowed to repeal this legislation. Whether Australia will maintain its carbon price following the election is causing significant uncertainty in the business community. The Coalition proposes to pursue its climate change policy through the introduction of its Direct Action Plan, however there is currently limited detail about how this policy will be implemented. In response to concerns and questions from our clients about how to respond to this current uncertainty, Norton Rose has prepared an analysis, The future of the Carbon Pricing Mechanism - managing uncertainty.
The analysis considers the likely process and timing scenarios for a full repeal of the Carbon Pricing Mechanism and gives consideration to other options that the Coalition may pursue, if full repeal does not ultimately become possible. We also set out what is currently known of the Coalition's Direct Action Plan, and include suggestions on strategies that businesses could pursue both before and after the Election in response to this uncertainty. We would welcome your comments or views on our analysis.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
