By John Conroy
According to the news service, the new legislation would give the Climate Change Authority power to determine if the international conditions had been met to trigger an Australian scheme, saying they have "equivalent schemes", which may only have a comparable effect, to an ETS. "The proposal also sets out that the trading scheme must not 'unfairly impact' Australian businesses relative to the businesses of the US, the EU, Japan, Korea and China," Fairfax said.
Clive Palmer has eased the requirements needed to launch his emissions trading scheme, removing the condition that India price carbon and widening the definition of what the remaining trading partners – US, EU, China, South Korea and Japan – need to have in place to warrant activation, Fairfax reports.
Read more here: Business Spectator