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Explanation of the Current and Proposed Australian Carbon Policies
Finance & Accounting
Pages 10 (2510 words)
Environmental Accounting 1.0 Explanation of the Current and Proposed Australian Carbon Policies. In the year 2007, the Australian regime did participate in the ratification of the Kyoto protocol. The administration of the country commits itself to dropping the amount of green house emissions around the nation to 40% of the current amount of emissions by the year 2050 (Bennet, Richardson and Schaltegger, 2003).
It supports a reporting system on carbon emissions and is the most conspicuous regulation of carbon emissions in use to date. The Australian parliament did introduce a system for controlling the renewal of energy by passing the amendment on the energy targets. It provides that renewable sources of energy will produce approximately 20% of the nation’s electric power by the year 2020 (McKinsey, 2007). 1.1 The Current Legislation for Reporting Carbon Emission Data Since the beginning of the month of July in the year 2008, the Australian government did require that organizations provide precise information about their green house emissions (Unerman, 2007). The state’s legislative body did pass a law for regulating the reporting of emissions from greenhouses under the 2007 act on National Greenhouse reports. The administrators of this piece of legislation are the climate change department. The challenges coming from greenhouse emissions are under the regulation of the Water, Environment, Heritage and Arts division of the government (McKinsey, 2007). The government and various industries across the nation did take a deliberate initiative to regulate the amount of emissions through the Greenhouse challenge plus scheme. ...
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