Tuesday, 22 July 2014
Last updated 27 min ago
Dec 4 2009 | 9:28am ET
On the eve of the U.N. climate change talks in Copenhagen, the Australian Senate has defeated Prime Minister Kevin Rudd’s plan to implement a carbon trading system.
The Senate voted 41-33 against the bill, which would have limited industrial emissions of greenhouse gases and created pollution permits that could be bought and sold.
The defeat came after two weeks of debate, during which the conservative Liberals, the main opposition party, at first agreed to back the bill then on Tuesday dumped their leader and withdrew their support.
The cap and trade system was considered key to the Rudd government meeting its commitment to cut emissions by 5% to 25% – depending on whether a Copenhagen deal was struck – by 2020.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…