This is big news for a lot of reasons. The Gillard government had been having its share of difficulties lately so this is a big win for her. Australia has been feeding the rapid growth in China with its raw material exports, so this was not an easy vote. Australia will join the European Union and New Zealand, with California joining soon after. China and South Korea are also expected to begin. The Guardian:
The vote is a major victory for embattled Prime Minister Julia Gillard, who staked her government's future on what will be the most comprehensive carbon price scheme outside of Europe despite deep hostility from voters and the political opposition.
The scheme is a central plank in the government's fight against climate change and aims to halt the growth of the country's growing greenhouse gas emissions from a resources-led boom and age-old reliance on coal-fired power stations.
It sets a fixed carbon tax of A$23 ($23.78) a tonne on the top 500 polluters from July 2012, then moves to an emissions trading scheme from July 2015. Companies involved will need a permit for every tonne of carbon they emit.
