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Australia Should Price Carbon at A$20-A$30 a Ton, Adviser Says

Australia should price carbon emissions at between A$20 and A$30 a ton, rising at 4 percent a year, when it introduces planned laws aimed at curbing emissions, government climate change adviser Ross Garnaut said.

The price should then float, “without caps or floors, in mid-2015 unless the independent regulator judges that there are insufficient international trade opportunities to secure liquidity and stability,” Garnaut wrote in a report released today. A framework document the government put out on Feb. 25 didn’t include a carbon price.