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Senate passes carbon pricing legislation

The Australian Senate passed legislation on 8 November to introduce a carbon-pricing scheme from next year.

The Clean Energy Future legislative package includes initiatives aimed at reducing emissions, developing and fostering new technologies in renewable energy, encouraging energy efficiency and creating opportunities in the land sector to cut pollution.

Under the legislation, a fixed carbon price of AU$23 per tonne will apply from 1 July 2012. This will be changed to a flexible price after three years. The carbon price is a tax on pollution to be paid by Australia’s largest polluters.