Joe Ludwig (Queensland, Australian Labor Party, Minister for Agriculture, Fisheries and Forestry) Share this | Hansard source

What I can do is speak on what Australia is doing. These linking arrangements do not change the overall access that Australian firms have to international units—that is, Australian liable entities remain able to meet up to 50 per cent of their liabilities through international units. The EU ETS, being the longest running emissions trading system, is highly credible. What you put at doubt is the EU emissions trading scheme. It has always been our policy to work towards linking with Europe and other developing emissions trading schemes globally, and any potential price difference with Kyoto units will also increase the competitiveness of our emissions intensive trade exposed industries. These industries could see effective assistance rates from 1 July 2015 go from 90.9 per cent to 97 per cent if Kyoto units can be sourced on the market for half of the cost of European allowances. (Time expired)