The timetable for an emissions trading scheme has been penciled in and already there have been preliminary talks on technical issues with industry and non-Government groups.
However, it won’t be until 2010 that such a scheme will come into effect.
Following are the scheduled steps in the lead-up to its introduction.
• July 2008: public release of a Green Paper on emissions trading design, drawing on preliminary consultations
• December 2008: public release of exposure draft legislation
• March – Mid 2009: Bill considered by Parliament
• 2009: Consultation on emissions trading regulations
• Third quarter 2009: Act enters into force, regulator established
• 2010: Emissions trading scheme will start.