Graph of the Day: Companies say carbon price to stay | RenewEconomy

Graph of the Day: Companies say carbon price to stay

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Survey shows most companies consider carbon pricing to be a ‘fait accompli’, are preparing for emissions trading, and dismiss the notion of carbon leakage.

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Despite all the bluster from Tony Abbott and the Coalition about repealing the carbon price, most companies simply don’t believe him, as our Graph of the Day shows.

According to a survey by Point Carbon/Thomson Reuters, reflected in this table below, around two-thirds of the respondents to a survey believed that the carbon price was a “fait accompli”, and few had changed their position in 2013, despite Labor continuing to fall in the polls.

The major caveat, of course,is control of the Senate. If the Coalition wins that, then all bets are off, but most companies simply don’t believe Abbott will follow through with a double dissolution on a carbon price and clean energy.

The survey of 2,041 respondents found that more than two-thirds of companies had set up trading operations for allowances and offsets, and 80 per cent had not even considered moving any production offshore as a result of the carbon price. More than three-quarters of respondents expected China to have a national emissions trading scheme.

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  1. Alastair 7 years ago

    What to stop what is a moderately effective mechanism in the Carbon Tax get gamed to the highest order as soon as ETS transition goes through. Carbon traders creating dodgy ‘carbon’ financial products, third world countries being paid a pittance by our polluters and us hypocritically selling them more unaccounted for coal and gas as we talk ‘carbon trading’, and local landholders getting paid for unverified ‘carbon’ sequestration that may disappear anytime in the future in a bushfire.

    Farmers should be chopping down their high conservation value remnant vegetation today to get a rebate for planting it out with blue gums or pinus radiata in a few years time. (I jest)

  2. Lars 7 years ago

    Alistar I know you jest but one can get paid for not chopping down forests (see REDD+) and there is a project in Tasmania, Regarding carbon farming initiatives and or tree planting, one can only plant trees on marginal land which cannot be used for growing crops and if not mistaken has been cleared for more than 100 years. There is a risk of trees burning but not 100% of plantings are accounted for, thus hopefully over all projects -even if one does burn down completely – the carbon credits will still be valid.

    Regarding todays Graph – this is all wonderful and we know that companies are well in advance of government legislation but unfortunately it is not companies that will vote in the next election but rather consumers, many of whom may wrongly believe the carbon price is making the cost of living too expensive, especially energy prices.

  3. Mark Meyrick 7 years ago

    I am not quite sure what ‘dodgy’ carbon financial products Alasdair can be referring to. In the world of financial products, carbon are amongst the simplest: futures & options. So not like the weird & wonderful products you get in FX & interest rates.
    Then the ‘pittance’ 3rd world projects get paid – that is the whole point of putting a limit on the amount of Kyoto credits you import – enough tyo encourage clean development in those countries, but not too much to prevent you taking domestic action. If the price is a ‘pittance’ it’s because of lack of demand from Australia and Europe. it wasn’t a pittance when we were up at €16 /CER when there WAS demand. So it’s about getting the various emissions trading schemes in order to give these projects proper incentives /prices and ensuring there exists a genuine shortage – and not massive over-supply such as Europe has at the moment.
    I think Lars informed you quite well on CFI and land use. So don’t rant Alasdair – get informed properly 🙂

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