Eric Abetz (Tasmania, Liberal Party, Minister for Fisheries, Forestry and Conservation) Share this | Hansard source

What the Prime Minister has said is that, as a matter of principle, Australia would be prepared to participate in a truly global emissions trading system. In support of this, the Prime Minister established the joint government-business task group in December 2006 to advise on the nature and design of a workable global emissions trading system in which Australia would be able to participate. The focus on a global system reflects the government’s recognition that Australia cannot solve climate change alone and that an environmentally-friendly, effective response must include all emitters.

Market mechanisms, including emissions trading, will be integral to any long-term solution on climate change. It is important that any future emissions trading system protects Australia’s natural advantages in the resources and energy sectors. The government will not introduce a national emissions trading scheme which damages Australia’s international competitiveness. In determining whether such damage might occur, we must necessarily pay regard to the responses of other nations to the issue of emissions trading.

At the same time, the government continues to support the development of low-emission technologies, including renewables and clean coal, that are needed to bring about low-cost emission reductions over the long run.