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1 - The independent Climate Change Authority, headed by former reserve bank governor, Bernie Fraser, will set Australia's pollution reduction targets based on the current science and international progress. These will be voted on by Parliament.

2 - Australia's biggest 500 polluters will pay $23 per tonne of pollution they put in our air. That $23 price rises by 2.5% a year on top of inflation. This will give companies an incentive to pollute less.

3 - All money raised will go to household assistance, job support, and investing in clean, renewable energy.

4 - After three years, the carbon price will move from fixed to flexible, which means it will be set by the market -- although it can't go below $15 per tonne.

Job growth will continue under the carbon price, at the same time that we cut carbon polluter. By 2020 national employment is expected to grow by 1.6 million jobs.

The plan allocates around 40% of carbon price revenue to help businesses and support jobs. A Jobs and Competitiveness program will target the biggest polluting companies so that they can remain viable while making the transition to lower emissions intensive practices. This assistance will be reviewed by the independent Climate Change Authority and can be adjusted based on meeting Australia's pollution reduction targets.

Creating a clean energy future for Australia will provide new opportunities for workers in new clean, sustainable industries while also supporting existing industries as they transition to more efficient and clean technologies.

The manufacturing industry will also receive assistance under a Clean Technology Investment program providing grants to manufacturers to invest in energy efficient technologies, processes and products.
Nine in ten households will receive assistance for cost of living increases caused by the carbon price.

Four million households will be better off, with assistance of more than 20% of the average price impact, 6 million households will get help to meet the average price impact of carbon pricing and 8 million households will get some assistance through pension payment increases and tax cuts.

Households that use less energy will cut their electricity bills and keep their assistance payments, creating an incentive to cut emissions at home.
To ensure Australia's economic prosperity continues to grow we have to have a healthy renewable energy sector.

To kick-start that growth more than $13 billion will be invested in clean energy under this climate agreement.

Importantly, two independent authorities will oversee this investment.

The Clean Energy Finance Corporation will leverage $10 billion in investment in renewable energy, energy efficiency and low emissions technologies.

The Australian Renewable Energy Agency will oversee $3.2 billion in existing funding for research, development and demonstration of new renewable technologies.

This investment will also begin to unlock tens of thousands of jobs in the clean energy sector.
Farmers will be able to receive credits to reduce carbon pollution by changing their land use by, for example, using fertiliser more efficiently or planting trees that absorb carbon.

As a result, these methods are more likely to be included in the next international agreement.
$1 billion over six years will be placed in a Biodiversity Fund. The fund will help ensure that, while we pursue the cheapest available options pollution reduction, we do so in a way that recognises biodiversity.

Under the current international climate agreement (Kyoto) rules, a monoculture plantation would be recognised as providing the same climate benefit as a bio-diverse plantation. That will change under the Australian carbon pricing scheme.
Industries that have to compete with overseas companies will receive assistance. That includes 80% of the manufacturing sector.

An additional $1.2 billion will be available for manufacturing industries to help them investigate research and development in low pollution technologies.

$200 million is available for the food processing, metal forging and foundry industries to help them improve their energy efficiency.

The steel sector will receive $300 million to help it transition to cleaner energy.

There's also $1.3 billion for the most polluting coal mines to help them implement technologies which reduce carbon pollution.
The Government will negotiate the closure of 2,000 megawatts of highly polluting energy generation by 2020 – enough to close down Australia's dirtiest coal fired power station and more.

Where the carbon price has a strong impact on electricity generators, they will be given cash assistance in exchange for adopting a clean energy plan to reduce their pollution.

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