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Australia May Pay A$14 Billion Without Carbon Price, Review Says


| Sourced From Businessweek |

Nov. 26 (Bloomberg) — Australias government faces a A$14 billion bill to meet its lowest emissions targets if it doesnt implement a carbon price, the Australian Financial Review said, citing a report by the Climate Institute to be released today.

This would be the cost of buying carbon reductions internationally to cut emissions by 5 percent below 2000 levels by 2020, according to the report.

If Australia raises its target to 15 percent, the cost rises to A$18 billion, the newspaper said. A carbon price of A$30 per tonne of emissions rising to A$50 by 2020 would eliminate these costs and raise A$3.6 billion, the report said.

To contact the reporter on this story: Nichola Saminather in Sydney at nsaminather1@bloomberg.net

To contact the editor responsible for this story: Tim Smith at tsmith58@bloomberg.net

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