Green policy on carbon credits and debits

The Greens have released a policy on carbon, and my first reaction was that it didn’t seem too unreasonable.

Don’t get me wrong. It is still lacking even a basic cost benefit analysis. It targets reducing emissions without looking at other approaches. And it wants to use the money from carbon taxes to give back to low income families so they are not affected by fuel price increases (which partly defeats the point of any price increase which is to reduce demand). It is far from ideal. It puts the emphasis on Kyoto, which is in fact close to being an official failure.

But the target of a global integrated carbon trading system is good, They also recognise that forest owners should receive some benefits from the carbon they store. And their approach with agriculture seems moderate.

The Dom Post reports both Labour and National say there is some common ground with what the Greens propose. A multi-partisan approach is desirable.

No Right Turn has doubts over the policy though – especially the lack of a full international carbon market.

I would be interested to see some modelling of the policy – specifically what reduction in carbon emissions are expected under this policy, and what impact that will have on the average global temperature.