Carbon trading and renewable energy

Source: RIRDC
"A low carbon price under the proposed carbon pollution reduction scheme (CPRS) will not be enough to stimulate large-scale investment" in bioenergy, argues a paper by the Rural Industries Research and Development Corporation (RIDC) released this morning in Melb. RIDC MD and the paper's author, Peter O'Brien, said policies targeted at developing the renewable energy sector, such as the Fed Govt's promised renewable energy target (RET), were crucial for Aust to reduce its CO2 emissions. The RET should operate in parallel to the CPRS "at least until the carbon price reaches $65 per tonne" but it was "unlikely" that price would be reached "in the short to medium term", O'Brien said."