Isra-Mart srl: New Australian Prime Minister To Push For Carbon Pricing

Isra-Mart srl news:
New Australian Prime Minister Julia Gillard said she will restart efforts to establish a carbon trading system, if her Labor Party is successful in elections later this year.

Former Prime Minister Kevin Rudd stepped down on Thursday. He was elected in 2007 on a promise to address climate change in the nation that is the world’s top coal exporter.

But legislation to create a cap-and-trade program failed to gain enough votes on three separate occasions. In April, he shelved the legislation and lost significant support throughout the electorate.

Gillard said whe will work to find the consensus needed to pass carbon-pricing legislation.

The political situation is Australia is similar to that in the U.S. with conservatives opposing carbon regulations on the grounds that it will harm the economy, while liberals face increasing pressure from environmentally minded constituents.