"The focus of the study was to compare outcomes under a suite of subsidy based policies to the outcomes under an emission trading scheme. The outcomes of the study are presented in this report. There are several market based approaches that could be used to achieve a carbon emission target. Which approach is more or less effective in achieving the target will depend on any restriction placed on the measure, the ability of each approach to manage the uncertainties on the cost and future scale of abating carbon emissions, the long term behavioural signals provided and the relative impacts on the broader economy. This report outlines the assumptions and method used and discusses the result of the modelling. Limitations and uncertainties in the approach are also outlined. The focus of the analysis was on potential impacts – there is no discussion on which approach is more efficient." --Introduction.
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