Why It Is Important to Reduce Emissions Caused by Carbon...

The issue of Global climate change is one of the utmost economic, social, and environmental challenges of this century. Analysis shows that greenhouse gas emissions are responsible for changes in the pattern of climate around the Globe. â€Å"Global pollution creates a â€Å"public bad† born by all – a negative externality with a wide impact† (M.Harris, 2002). Australia is considered to be the driest populated continent in the world and faces stern drought and water shortages. Reducing carbon emissions is challenging for Australia, although the Government realizes that meeting this challenge is important and commits to reducing the level of pollution caused by greenhouse gases in Australia, and voluntarily preparing for an altered climate in the†¦show more content†¦The Government aims to reduce emissions to 60% lower than 2000 levels by 2050, and its medium term target ranges between 5 and 15% below 2000 levels by 2020. According to the government, Australia needs to reach an universal agreement so that atmospheric contents of greenhouse gases can be stabilized at around 450 parts per million of CO2E (Carbon Dioxide Equivalent).The government has realized that to achieve this global commitment with such action is going to be challenging in the future. The medium term targets set by Australia are quite similar to that of many othe r countries that have announced their targets. For example: the European Union (Pope, 2009). The working of the ETS is mainly based on emitters of any six greenhouse gases who acquire a permit for each tonne of gas they emit. There is monitoring, reporting and auditing done on the total amount of emissions the industries produce. During the end of every financial year, each firm surrenders a permit for each tonne of emissions they produced during that year. Limited amounts of permits are issued by the Government every year and entities compete to buy the amount of permits they need. The permits are mostly auctioned or traded in the secondary market and firms who consider the permits of high value pay a lot for them. Reducing emissions than buying permits is a convenient choice for smaller firms. Few other firms are allocated freeShow MoreRelatedConstruction and the Built Environment5845 Words   |  24 PagesEnvironment Assignment One The year 1992 and the ‘Earth Summit in Rio de Janeiro marked a paradigm shift in the attitude of the governments of the world, as over 150 delegates attended and recognised the importance of ecological issues to the future of humanity. This was of great significance to the construction industry, as one of the greatest consumers, and producers, of our economic system. ‘Construction accounts for 40% of the total flow of raw materials into the global economy everyRead MoreTransportation in Food Industry7769 Words   |  32 Pageswhere they are processed and packed. This can involve a number of journeys. The more complex the end product the more transport is likely to be involved. 3. The finished product may be taken to a consolidation centre where it is consolidated with other goods destined for a number of retailers. 4. The consolidated load can travel on to a regional distribution centre (RDC) or a national distribution centre (NDC). 5. A full load from the distribution centre travels on to stores. 6. Returnable packagingRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesCity Landscape Gerda Lerner, Fireweed: A Political Autobiography Allida M. Black, ed., Modern American Queer History Eric Sandweiss, St. Louis: The Evolution of an American Urban Landscape Sam Wineburg, Historical Thinking and Other Unnatural Acts: Charting the Future of Teaching the Past Sharon Hartman Strom, Political Woman: Florence Luscomb and the Legacy of Radical Reform Michael Adas, ed., Agricultural and Pastoral Societies in Ancient and Classical History Jack Metzgar, Striking Steel: