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The Property Council of Australia appreciates the opportunity to comment on the discussion papers prepared by the National Emissions Trading Taskforce.
We welcome the investigation into the possible establishment of a national emissions trading scheme run by the state and territory governments.
Emissions trading is the most cost-effective and economically sensible way of reducing greenhouse gas emissions, and the Property Council applauds the current review.
However, for it to be successful, emissions trading must encompass the entire economy and not just be restricted to up-stream and large emitters.
In other words, diffuse emitters should be able to gain credits for reducing their emissions – their efforts should not deliver windfall gains to energy generators or producers.
Furthermore, we believe that any emissions trading regime should be designed and operated in partnership with the Australian Government, to ensure it has broad support.
Following is a Property Council position paper on emissions trading and a report we have commissioned on regulatory impact assessment.