On 24 February 2011, Prime Minister Julia Gillard announced that the Multi-Party Climate Change Committee (MPCCC) had agreed on a broad framework for a proposed Carbon Price Mechanism (CPM).
The CPM is set to commence on 1 July 2012 with a fixed price emissions trading scheme (ETS) before converting to a capand- trade ETS. This structure has previously been considered in the context of the Rudd Government’s Carbon Pollution Reduction Scheme (CPRS).
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