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Vic Premier Bracks supports introduction of national emissions trading scheme, Victoria also the only state to mandate energy retailers required to purchase minimum of 10pc renewable energy by 2016

Posted by gmarkets on 3 October, 2007

During the Victorian Legislative Assembly (23/5/07), Steve Bracks, the Premier of Victoria moved that the house support the introduction of a national emissions trading scheme to reduce Australia’s greenhouse gas emissions, which contribute to global warming and climate change, and in particular support an effective national emissions trading scheme which:

(1) was established in collaboration between the state, territory and federal governments under the auspices of the Council of Australian Governments;

(2) has a specified long-term cap that would contributed to reducing emissions by 60 per cent by 2050 compared with 2000 levels;

(3) would set firm emissions caps and commit to absolute reductions in emissions in future years; and

(4) would recognise that complementary measures to a national emissions trading scheme, including the Victorian renewable energy target and the Victorian energy efficiency target schemes, would be necessary for the foreseeable future.

Vic snowfall could reduce 40 days by 2020: “The threat of climate change is real,” Bracks said. On 23 May, the Victorian government released a new report which summarised the CSIRO’s current knowledge of how Victoria’s climate may change in the 21st century. According to this report the average snow season in Victoria would be reduced by up to 40 days by 2020, which was not that far away.

Whole industry would be affected: When thinking of 2050 or 2070, 2020 was not far away, and a whole industry would be affected by a 40-day reduction in the snow season, going by the CSIRO’s work. Victoria was also the only state to mandate that energy retailers were required to purchase a minimum of 10 per cent renewable energy by 2016.

Vic renewable energy target to cut emissions 27million tonnes: Last year Victoria became the first state to announce its own mandatory Victorian renewable energy target (VRET) scheme, a move which would cut greenhouse gas emissions by 27 million tonnes. The announcement by the government to commit to their own 10 per cent target led almost immediately to new solar, wind and hydro projects in Victoria. These were announced regularly after that commitment was made.

20,000 homes and offices switch to solar power: Furthermore, the Victorian government has introduced a range of measures which mean that 20 000 existing homes and offices have switched to solar power, and that Victoria’s largest 500 emitters were saving more than 1 million tonnes of greenhouse gases and have cut their energy bills by about $34 million a year collectively, which is quite significant. It was good for the environment and good for the bottom line of those businesses as well.

Reference: Steve Bracks, Premier of Victoria, Legislative Assembly, Victoria, 23 May 2007.

Erisk Net, 14/6/2007

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