Proposals for emissions trading under spotlight at workshopThe Department of Economics hosted the inaugural workshop on the Economics of Climate Change at the beginning of August. The objective of the workshop Emissions Trading for Australia was to provide a forum for discussion of recent proposals for emissions trading for Australia. The workshop focused on the proposals put forward by the Garnaut Review and the Government's Green paper. Discussions covered key areas of difficulty in the proposals, alternative ways of handling them, an examination of how markets for permits are likely to work, and a discussion of financial mechanism for international emissions trading arrangements. The workshop involved three main presentations followed by round-table discussion which focused on the merits, strengths and weaknesses of the proposals and key parameters that may need to be determined. Presentations were delivered by Mr Blair Comley from the Department of Climate Change, outlining the proposals and the rationale for the decisions about the key features. Professor Graciela Chichilnisky from Columbia University and a Monash University Sir Louis Matheson Distinguished Visiting Professor talked about how well markets for permits will work. Professor Peter Dixon from the Centre for Policy Studies provided an overall perspective and assessment. Photo: Professor Dietrich Fausten, Professor Kim Langfield-Smith, Professor Graciela Chichilnisky, Professor Peter Dixon and Mr Blair Comley.
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