Abolition of the Australian Carbon Pricing Mechanism

In July 2014, legislation repealing the Australian Carbon Pricing Mechanism (CPM) was passed after the new state Senators elected in September 2013 took their seats on 7 July. The CPM started in July 2012 with a fixed price of 23 AUD (about 18 EUR in 2012) and was to transition to a full-fledged emissions trading scheme in July 2015. The repeal of the CPM was a key election pledge of current Prime Minister Tony Abbott. An alternative climate policy is currently being debated in the Parliament. The repeal legislation is available on the website of the Australian Department of the Environment.