Emissions Trading Scheme on Financial Markets

11 August 2008: Professor Warwick McKibbin talks to Kaplan Professional about the Federal Government’s new emissions trading scheme. He discusses the pros and cons of a ‘cap and trade’ scheme, and the need to lower emissions whilst managing the economic cost of such a scheme.

About Professor McKibbin
Economist and academic Professor Warwick McKibben is a longtime proponent of the need to set a carbon price to tackle climate change. He is critical of some aspects of the carbon trading blueprint outlined in the Garnaut Report, and broadly supportive of that proposed in the Rudd Government’s Green Paper. He believes a multi-track approach, incorporating a carbon trading scheme, will be needed to effectively tackle the problems of climate change and limit the negative impacts on the Australian economy. Warwick is a Professor of Economics at the Australian National University and a Director of the Centre for Applied Macroeconomic Analysis in the ANU College of Business and Economics. He is also a Director of the Reserve Bank, a Professorial Fellow at the Lowy Institute, and a non-resident Senior Fellow at the Brookings Institute in Washington DC. He was a member of the taskforce set up by the Howard Government on nuclear energy in Australia and is currently a member of the Prime Minister's Science, Engineering and Innovation Council.

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