Senate debates
Wednesday, 25 November 2009
Carbon Pollution Reduction Scheme Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Consequential Amendments) Bill 2009 [No. 2]; Australian Climate Change Regulatory Authority Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — Customs) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — Excise) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (Charges — General) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (CPRS Fuel Credits) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme (CPRS Fuel Credits) (Consequential Amendments) Bill 2009 [No. 2]; Excise Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2009 [No. 2]; Customs Tariff Amendment (Carbon Pollution Reduction Scheme) Bill 2009 [No. 2]; Carbon Pollution Reduction Scheme Amendment (Household Assistance) Bill 2009 [No. 2]
In Committee
9:07 pm
Penny Wong (SA, Australian Labor Party, Minister for Climate Change and Water) Share this | Hansard source
Both scenarios assume international trade. My recollection is the Garnaut modelling assumed a much deeper and more liquid international carbon market because it was predicated on an assumption of greater action. I do not want to speak for Professor Garnaut—my recollection might be hazy—but his report looked at different scenarios. The 25 per cent scenario was in the context of an ambitious global agreement where other developed economies were doing more and developing economies were taking action consistent with an environmental objective of atmospheric stabilisation around 450 ppm.
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