By Staff Writer

The Australian Government has released a White Paper outlining the final design of the Carbon Pollution Reduction Scheme and a medium-term, target range for reducing carbon pollution.

Prime Minister Kevin Rudd told journalists at the National Press Club in Canberra: "Today the Australian Government announces one of the largest and most important structural reforms to our economy in a generation, the introduction of a Carbon Pollution Reduction Scheme," .

The Prime Minister said the White Paper represented the culmination of an extensive Treasury Modelling exercise; the Garnaut review and the Carbon Pollution Reduction Scheme Green Paper.

"Today I announce the Government’s medium-term target range: in other words, our 2020 target to reduce carbon pollution," he said.

"By the end of 2020, we will reduce Australia’s carbon pollution by between 5 per cent and 15 per cent below 2000 levels.
"5 per cent below 2000 levels is our minimum, unconditional commitment to reduce emissions by 2020, irrespective of the actions of other nations.

"15 per cent below 2000 levels is our commitment to reduce emissions further, if there is a global agreement where all major economies commit to substantially restrain emissions and advanced economies take on comparable reductions to that of Australia," he said.