Not exact matches
This
price, which essentially transforms the trading
scheme into a tax, must be high enough so that it sends a credible signal that emitters must invest in technologies and practices that lower
carbon emissions.
Even if these improvements are sped up by a concerted reinvestment in technology education, R&D, deployment assistance, etc. there's no way they're going to start bending the curve for 10 - 20 years.The advantage to
carbon pricing schemes is that they can be brought
into effect much quicker than the development / deployment cycle of advanced technology.
It is in this context that the recent reform of the European Emissions Trading
scheme (EU - ETS)-- and in particular the introduction of the new mechanism for modulating supply, known as the Market Stability Reserve (MSR)-- is so interesting: it has thrust the issue of
carbon pricing back
into the headlines, not least owing to the 200 % increase in EU
carbon prices since May last year.
While this sounds like a sensible proposition, it plays
into Abbott's strategy of framing Labor's emissions trading
scheme and other
carbon pricing measures as a «great big tax.»