‘MORE than $5.5 billion has been spent by federal governments during the past decade on climate change programs that are delivering only small reductions in greenhouse gas emissions.
‘An analysis of government schemes designed to cut emissions by direct spending or regulatory intervention reveals they have cost an average $168 for each tonne of carbon dioxide abated.
‘While some have reduced emissions cost-effectively, many of the more expensive schemes are exorbitant ways of tackling climate change, costing far more for each tonne of carbon avoided than any mooted emissions trading scheme or carbon tax.
‘The worst offenders have included the Labor government’s rebates for rooftop solar panels, which cost $300 or more for every tonne of carbon abated, and the Howard government’s remote renewable power generation scheme, which paid up to $340 for each tonne of carbon.
‘By contrast, the proposed emissions trading scheme blocked by the Coalition and the Greens in the previous Parliament was expected to put a price on carbon of $20 to $25 a tonne in its early years…
[Climate cash goes up in smoke, Mark Davis and Lenore Taylor, The Age]