The impact of industry assistance measures under the Carbon Pollution Reduction Scheme

Source: Innovest
Greenhouse gas emission intensive companies could receive hundreds of millions dollars worth of free carbon permits under the Federal Government’s Carbon Pollution Reduction Scheme, a report released by the Australian Conservation Foundation has found. The report by financial advisers Innovest estimates that under the present design for the scheme, in the first year of the CPRS, $825 million worth of free carbon permits will go to aluminium smelting companies, $227 million to alumina refiners, $146 million to cement makers and $124 million to steel makers. If the black coal sector qualifies for assistance under the scheme, it could receive more than $1.5 billion in free permits in the first year of the CPRS’ operation, the report finds."