Mixed Signals from the Land Down Under

Australia, the land down under, has an interesting position on a Kyoto CP2 at these talks. Their proposed Clean Energy Future legislation is currently going through their parliament and looks set to be passed prior to Durban. If this is the case, Australia will have a fixed price on carbon emissions, covering 500 companies, before moving to an Emissions Trading Scheme in 2015. It will also see an increase in the ambition of their longer-term target from 60% to 80% by 2050 based on 2000 levels.  ECO definitely welcomes these initiatives.  Furthermore it would seem that the stage is set for Australia to move to the higher end of its pledge and inscribe it in a second commitment period of the Kyoto Protocol.  Yet, unlike the EU (which also has legislation in place), Australia continues to resist calls to extend the KP. It remains a mystery as to what could possibly be holding Australia back!