The emerging issue of the emissions trading schemes in Europe and Australia
This report covers an overview of the origins of the carbon trading market and the mechanics involved in trading carbon emission units. The report seeks to analyse the carbon trading market in Europe and Australia. The carbon trading market is reviewed with an overall concern for the role government regulation plays in the market, as well as the impact of introducing an emission trading scheme on businesses in general. A summary of the current initiatives to climate change management in Europe and Australia is presented in this paper, including a review of the different types of schemes proposed under carbon trading and also the concept of carbon tax. The emissions trading scheme in Australia is turning into a hot topic, and the purpose of this paper is to analyse different trading schemes, and provide an economic analysis of the trading scheme and its implementation issues.
Keywords: Australia, emissions trading schemes, Europe, carbon tax, carbon trading, least cost strategy, carbon emissions, sustainability, sustainable development, carbon dioxide, CO2 emissions, climate change management
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