Financial Times FT.com

Canberra sees cost benefit in CO2 trades

By Fiona Harvey

Published: October 20 2008 01:34 | Last updated: October 20 2008 01:34

Australia will press ahead with a national carbon trading scheme in spite of claims from businesses that it could damage their competitiveness.

Penny Wong, minister for climate change and water, told the Financial Times that the global financial crisis was not a reason to put off commitments to reduce emissions: “We were elected last year with a very clear commitment to emissions trading ... Australians have been clear that they want the government to take action.”

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