CANBERRA (Reuters) - Australia and the European Union on Tuesday agreed to link their carbon trade schemes by 2018, allowing Australian firms to immediately buy cheaper EU carbon credits in a move expected to boost demand for EU carbon allowances.
Australia will also scrap its planned A$15/ton ($15.58) carbon floor price when its emissions trading scheme starts in July 2015. Currently, Australia's carbon tax is fixed at A$23 a ton.