AUSTRALIA’S CLIMATE AND ENERGY STRATEGY AND THE TFD
Tuesday, November 29, 2011
There are several outstanding elements to Australia’s climate and energy strategy:
1. There is a ministry that institutionally integrates climate and energy policies;
2. Australia takes the lead without waiting for others in setting a price on carbon and without being autarkic because it carefully considers its policies in the global context by linking it, particularly during the flexible period;
3. It strikes a balance on carbon pricing during the fixed period of 2012-2015 where the price is set on $23 a ton of CO2 after which the price is subject to change to world markets during the flexible period of carbon pricing;
4. It uses an upstream carbon taxing administration by taxing 500 companies instead of using a downstream method of carbon taxing millions of residents;
5. It educates its citizenry by an exemplary website and publications, using modern mass media and involving youth and others
6. Its tax and dividend system will ensure acceptance by the public who can save upon their carbon dividends by increasing personal energy efficiencies;
7. Its carbon reduction method is fair and fast: polluters pay starting in July 2012;
8. Its sets clear emission targets: 5% by 2020 and up to 15 to 25 % depending upon the scale of global climate action.
The Tierra Fee & Dividend (TFD global governance uses the Fee & Dividend carbon reduction method which is slightly different from the tax and dividend method and shares its being fair and fast.
In addition to the use of similar carbon reduction methods both systems integrate climate and energy, but in different ways. The TFD brings in the issue of a dysfunctional international monetary system which is being used to combat the climate crisis and advance sustainable development. By transforming that system by basing it on a carbon standard, a society’s currency and economy is strengthened to the extent it decarbonizes and engages in a renewable energy infrastructure.
Given that Australia has taken leadership in devising an innovative climate and energy strategy, could it become the first country that would take leadership at the 2012 Rio Conference to have the TFD global governance system considered as an integrated alternative for global economic, social and environmental development? In various ways the International Institute for Monetary Transformation is reaching out to various governmental and non-governmental organizations in Australia to make that a reality.