Australia the first to postpone carbon trading launch to 2013

Now the question is whether this is a good sign or not for carbon trading in general. Trading will lower the price but some critics say that the concept is flawed. In any case. This is the beginning of the article.

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Australia on Tuesday shelved plans for a carbon trading scheme to cut greenhouse gas emissions until at least 2013, blaming the slow pace of global action and an obstructive opposition.

Prime Minister Kevin Rudd, who has described climate change as “the great moral challenge of our generation”, said plans for a Carbon Pollution Reduction Scheme (CPRS) were on hold after they failed to pass through parliament.

“The opposition decided to back-flip on its historical commitment to bring in a CPRS and there has been slow progress in the realisation of global action on climate change,” Rudd told reporters in Sydney.

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