Climate change 03

  Climate change 03 Order Description   Module 3 provides a review of international agreements and domestic policies for mitigation climate change. In particular the Kyoto Protocol and the Paris Agreement under the United Nations Framework Convention on Climate Change (UNFCCC) are the two key international agreements. In Australia we compare and contrast the carbon tax policy with the Emissions Reduction Fund. In week 9, the focus is on development of carbon pricing instruments globally. A potential risk identified is carbon leakage. A next step in this development of these markets is the potential for the linking carbon pricing across the different schemes. Respond: 1. Compare and contrast the former Labor Government’s carbon tax policy with the Coalition Government’s Emissions Reduction Fund. (Be concise and keep you response under 250 words) 2. Assume you are a senior researcher with the United Nations Framework Convention on Climate Change (UNFCCC). The Head of the research branch has requested a briefing note on the possibility of linking the EU ETS with the NZ ETS. She has asked for precise and concise answer to the following two questions. (a) In two dot points what is the key motivation for linking an ETS?   (b) Assume the initial price of carbon is higher in the EU ETS. Do NZ ETS net buyers of emissions permits gain or lose? Do EU ETS net sellers of emissions permits gains or lose? Briefly explain.