Australia commits to July 2010 for carbon trade

CANBERRA, Dec 15 (Reuters) - Australia on Monday committed to start the most sweeping carbon trade scheme outside Europe in mid-2010, as planned, despite business calls for a delay due to the global financial crisis.
Climate Change Minister Penny Wong also said Australia would cut greenhouse gas emissions by between 5 and 15 percent by 2020, based on the year 2000 levels, to give Australia flexibility in global talks for emissions cuts beyond 2012.
"These are hard targets for Australia. If we don't act now, we will be hit hard and fast," Wong told reporters.
Wong said Australia would set a carbon price of between A$23-32 ($15-21) per tonne, capped at A$40.