Garnaut Climate Change Review Interim Report

An Interim Report has been released to provide an overview of the early directions and findings of the Garnaut Climate Change Review, as a basis for community discussion.

The report says that Australia must now put in place effective policies to achieve major reductions in emissions. The emissions trading scheme (ETS) is the centre-piece of a domestic mitigation strategy. To achieve effective mitigation at the lowest possible cost, the ETS will need to be supported by measures to correct market failures or weaknesses related to innovation, research and development, to information, and to network infrastructure.

A Draft Report will be released by 30 June 2008 and a Final Report by 30 September 2008.