The industry that is expected to be one of the most affected by the introduction of an emissions trading scheme, the aluminium industry, believes the deal negotiated between the Federal Government and the Opposition is the best the plan is going to get.
“This ETS deal addresses a lot of our concerns,” Australian Aluminium Council executive director Miles Prosser told the ABC yesterday.
Prosser said that more delays and possible alternate plans are becoming an increasing concern.
“We would rather see it go through because we can’t see the circumstances emerging that would deliver a better outcome,” he said.
The Australian Business Council has also given support to the latest version of the proposed scheme, saying last week it would help Australian businesses plan for and make decisions about investments for a low-emissions economy.
Despite such key support, the proposed Carbon Pollution Reduction Scheme (CPRS) still faces major opposition from key parts of the mining industry, particularly coal.
The Minerals Council of Australia, The NSW Minerals Council and The Queensland Resources Council have all very loudly voiced their concerns about the CPRS.
Each has said that the coal industry will be fundamentally damaged without further concessions if the CPRS goes ahead in its current form, losing both revenue and jobs. They have called the scheme little more than a new tax on coal that will have little to no environmental impact.
Recent amendments to the CPRS saw the coal industry’s compensation double to $1.5 billion over five years.