Australia and the European Union (EU) have decided to commence discussions to link carbon-emissions trading schemes to fight against climate change, Reuters reports. The Australian government had launched plans two months ago to enforce a tax on carbon emissions from July 2012, before shifting to a carbon trading system from mid-2015.
Putting a price on carbon emissions will be a cost-efficient way to decrease emissions and generate green business opportunities. Europe’s emissions trading scheme was set up to cap the emissions of its heavy industry, compelling factories and utilities to acquire carbon permits to cover their emission output.
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