The Investment and Financial Services Association (IFSA) has announced its support for a national carbon pollution reduction scheme, including the proposed cap and trade framework.
"IFSA members are aware of the impact of climate change, and on the wider economy and value of investments," IFSA deputy chief executive John O'Shaughnessy said.
"We therefore support the Government's commitment to move forward on this matter, to ensure that a reduction scheme for carbon emissions is managed effectively."
In response to the Rudd Government's Carbon Pollution Reduction Scheme green paper, IFSA has also released a submission, outlining principles it believes would best contribute to the development of a workable carbon emission reduction program.
The submission proposes the market be allowed to set the carbon price, through an open and efficient market, and that a strong monitoring, reporting and assurance regime is set up to ensure emissions reporting is accurate and transparent.
"IFSA is of the view that the design of an emissions trading scheme should facilitate market efficiency and integrity, and minimise uncertainty, along with the economy-wide costs of reducing emissions," O'Shaughnessy said.
