Australian Prime Minister John Howard on Tuesday announced the Australian government will increase spending on measures to tackle global warming by 627 million Australian dollars (547 million U.S. dollars).
Howard said the new emissions scheme will help Australia substantially lower greenhouse gas emissions at the lowest cost, Australian Broadcasting Corporation radio reported.
"Australia will more than play its part to address climate change but will do it in a practical and balanced way in full knowledge of the economic consequences for our nation," he was quoted as saying.
He said the new funding includes 336 million dollars (293 million U.S. dollars) on improving energy efficiency in schools.
"Stabilizing atmospheric concentrations of greenhouse gases will be difficult, but not impossible," he said.
"We do not have to sacrifice our economic prosperity to tackle the problem," he added.
The funding scheme means every school in Australia will be entitled to a voucher of up to 50,000 dollars (43,600 U.S. dollars) to help install rainwater tanks and solar hot water systems.
Meanwhile, Australian Environment Minister Malcolm Turnbull said Tuesday that the carbon emissions trading scheme will be comprehensive.
"It will cover 80 percent of all emission outside agriculture and about 55 percent of total emissions in Australia," he said.
The scheme is set to be up and running by 2011.
Source: Xinhua
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