Isra-Mart srl: Guide to world carbon pricing

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Australia will become the 36th nation where some form of carbon pricing is in effect once the carbon tax becomes law.

Other nations have introduced a variety of schemes ranging from emissions trading in the uropean Union to a tax on coal in India.

Below is a list of actions on carbon pricing around the world:

AUSTRALIA - World's 15th-largest emitter of greenhouse gases

(557.6 million tonnes, 27.3 tonnes per person, 1.5 per cent of global total)

National carbon tax to begin July 1, 2012.

Initial price of $23 a tonne of carbon dioxide emissions levied on the 400 to 500 heaviest-polluting companies in the country. Carbon tax to be replaced by an emissions trading scheme in 2015, with permit prices contained by a $15 minimum price and a maximum price of $20 above the expected 2015 international permit price (to be decided in 2014).

CHINA - World's largest emitter of greenhouse gases (7.2 billion tonnes, 5.5 tonnes per capita, 19.1 per cent of global total)

No scheme currently in effect but plans to launch a pilot emissions trading schemes in six regions by 2013 and set up a nationwide trading platform by 2015.

Requirements for energy companies to have minimum renewable energy component.

UNITED STATES - World's 2nd-largest emitter of greenhouse gases

(6.9 billion tonnes, 23.4 tonnes per capita, 18.3 per cent of global total)

No national scheme.

Nine states participate in the Regional Greenhouse Gas Initiative, a cap-and-trade system for emissions from power plants.

Allowances, equal to one tonne of CO2, last sold for $1.89 each.

Cap is 188 million tonnes of CO2 per year.

Estimated consumer price impact is US46c/month for residential consumers.

Carbon auction proceeds were $900m as of Sept 2011, 80 per cent of which were invested in clean energy.

California, the world's eighth-largest economy, plans to introduce a cap-and-trade scheme in 2013.

California is also part of the Western Climate Initiative - a collaboration involving US and Canadian states and provinces, which plans to introduce a cap-and-trade scheme from 2012.

INDIA - World's fourth-largest emitter of greenhouse gases (1.9 billion tonnes, 1.7 tonnes per capita, 4.9 per cent of global total)

Clean energy levy of 50 rupees ($A1) per tonne on imported and locally produced coal introduced in July 2010. Funds raised (approx. $670m in first year) used to fund renewable energy projects.

EUROPEAN UNION (EU), includes:

GERMANY - World's seventh-largest emitter of greenhouse gases (978 million tons, 11.9 tonnes per person, 2.6 per cent of global total)

UNITED KINGDOM - World's 10th-largest emitter (644 million tonnes, 10.7 tonnes per person, 1.7 per cent of global total),

ITALY - World's 13th-largest emitter (562.4 million tons, 9.6 tonnes per person, 1.5 per cent of global total)

FRANCE - World's 16th-largest emitter (550 million tonnes, 9 tonnes per person, 1.5 per cent of global total)

SPAIN - World's 18th-largest emitter (436 million tonnes, 10.1 tonnes per person)

Emissions Trading Scheme covering 30 countries (the 27 EU Member States plus Iceland, Liechtenstein and Norway).

Scheme covers carbon dioxide emissions from power stations, oil refineries and factories such as steel works and cement, glass and paper plants. Airlines to be covered from 2012 and petrochemicals and aluminium industries from 2013.

Nitrous oxide emissions from some processes are also covered.

The EU scheme accounts for almost half of the EU's CO2 emissions and 40 per cent of total greenhouse gas emissions.

Current price per tonne of carbon (one EUA) is around 11 euro ($A14.90)

NEW ZEALAND - World's 59th-largest emitter of greenhouse gases (79 million tonnes,17.7 tonnes per person [UN Statistics division figure], 0.2 per cent of global total).

National scheme begun in 2008.

Cap and trade scheme currently covering forestry, stationary energy, fishing, industrial processes and liquid fossil fuels. Waste disposal and synthetic gases such as hydrofluorocarbons covered from 2013 and agriculture from 2015.

Price per tonne of carbon is $NZ25, halved to $NZ12.50 by a transitional measure which requires emitters to surrender only one permit for every two tonnes of emissions until 2013.

SWITZERLAND - world's 75th-largest emitter of greenhouse gases (53.9 million tonnes, 7.2 tonnes per person, 0.14 per cent of global total)

National scheme begun in 2008.

Swiss companies in energy-intensive sectors can either pay a CO2 tax, or participate in an emissions trading scheme. Companies that participate in the trading scheme are exempted from the CO2 tax.

The scheme covers energy-intensive sectors such as cement, paper and pulp, glass and ceramics industries.

Current price 12 Swiss Francs per tonne ($A13.10)

SOUTH KOREA - world's 12th-largest emitter of greenhouse gases (569 million tonnes, 11.8 tonnes per person, 1.5 per cent of global total)

Began a trial emissions trading scheme in 2010, covering some operators in the power, industrial, forestry, agriculture, waste, building and power sectors.

Expected to start a national emissions trading scheme in 2015.