A surprise proposal to reform the Emissions Trading Scheme (ETS) has sent the carbon price tumbling and drawn rebukes from market traders and climate advocates.
The Coalition Government quietly announced the changes to the scheme and wider climate policies at 8pm on Tuesday.
They include restricting the Climate Change Commission to monitoring, rather than advising on, emissions-reduction plans, and removing the requirement for ETS settings to align with New Zealand’s Paris Agreement targets.
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