Brussels, 05/04/2012 (Agence Europe) - The EU and Australia are making progress in their joint efforts to link Australia's emissions trading system with the EU's ETS. As it allowed the two parties, in Brussels on 29 March, to agree on a working plan to speed up this process, the meeting between Connie Hedegaard, European Climate Action Commissioner, and Greg Combet, the Australian minister for climate change and energy efficiency, industry and innovation, marked a new step towards the creation of a global carbon market.
"Linking our schemes is a priority for the Australian government. 32 countries, including the 27 European Union member states, have emissions trading schemes in place, as well as a number of state-based systems in North America. China is piloting trading schemes and has plans for a national Emissions Trading System after 2015. An ETS is also planned in the Republic of Korea and sub-nationally, an ETS will start in California in 2013", Combet stressed. Hedegaard said that "integrated carbon markets will also provide incentives for the development and diffusion of low carbon technologies that can assist countries' transition to low-emissions development pathways". (AN/transl.fl)