Antinuclear

Tax-payers $billions in auction for Abbott govt’s Direct Action scheme

Direct Action: Billions of taxpayers’ dollars up for grabs in Government-run auction to buy pollution, ABC News 15 Apr 15 By national environment reporter Jake Sturmer and Lisa Main The centrepiece of the Federal Government’s flagship climate policy begins today, with billions of taxpayers’ dollars up for grabs in a Government-run auction to buy pollution.

The Government’s flagship Direct Action climate policy was designed to replace the carbon tax, which was removed in July last year.

At its core is the Emissions Reduction Fund (ERF), which is designed to do the heavy lifting in reducing Australia’s emissions, but analysts who have modelled the scheme doubt it will work.

Comprised of $2.5 billion of taxpayers’ money, the ERF will directly pay polluters not to pollute and, among other things, encourage farmers to develop carbon sinks.

Around 250 projects are eligible to bid in this first auction according to the Clean Energy Regulator, with most of those in the land sector.

Bidders will include farmers who allow their property to revegetate with native bushland and piggeries that capture methane released from their animals.

The auction began at 9:00am (AEST) today and closes at 5:00pm tomorrow, with bidders committing how much they will reduce emissions by and then setting a price per tonne of carbon……..http://www.abc.net.au/news/2015-04-15/direct-action-taxpayer-dollars-up-for-grabs-in-auction/6392634

April 15, 2015 - Posted by Christina Macpherson | General News