Australia pledges to cut emissions by up to 15%

Australia  pledged to cut its greenhouse gas emissions by 5%-15% by 2020 via the world’s broadest cap and trade scheme. Business analysts believed that industry overall would be relieved at the trimming of some of the costs to polluters but environmental campaigners condemned the deal. The prime minister, Kevin Rudd, said the interim plan would not affect his commitment to slash the carbon emissions that are blamed for global warming by 60% from 2000 levels by 2050.

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