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
10:19 pm
Penny Wong (SA, Australian Labor Party, Minister for Climate Change and Water) Share this | Hansard source
In relation to those sources of abatement which are included in the CPRS, subject to appropriate robust methodologies, and that count towards Australia’s international commitments, obviously the benefit there is for those persons who can abate and, therefore, obtain a permit. The value of that permit is the value. In relation to the national carbon offset sector—this is the voluntary market—that will obviously depend on what the voluntary market is willing to pay for that activity. In terms of funding, we have included $50 million in additional funding for R&D investment. This is primarily on-farm. We have also included a $40 million green carbon fund to build the resilience of natural ecosystems under threat from climate change.
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