The measures of progress for this section are:
1. Existence of a Carbon pricing scheme
- Simple 0% or 100%
Figure 14: Carbon Pricing Scheme Measure
2. The setting of a carbon price high enough to:
- drive real industry change
- provide funding for the switch to renewable energy
We will set a level for this to be AUD$150 per tonne, based on the global studies and measure progress to reach or exceed 100%
Figure 15: Carbon Price Measure
3. The level of subsidies for fossil fuels themselves in any form to reach zero.
- When the measure reaches 100%, there are no subsidies available from the government for any fossil fuels
- The starting point is the level of subsidy paid in 2013. This is hard to determine precisely, with some disagreement on what to include as a subsidy. Looking at multiple data sources, a level of $11 billion per annum seems a reasonable estimate.
i. In the first edition, this progress must be zero as we are still at the starting point.
Figure 16: Zero Fossil Fuel Subsidies Measure