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The Times

How Australia’s new fuel efficiency scheme quietly created a carbon currency for cars

  • Written by Hussein Dia, Professor of Transport Technology and Sustainability, Swinburne University of Technology

Australia’s new fuel efficiency scheme has been in place for just seven months.

But the New Vehicle Efficiency Standard has already created a new, tradeable carbon currency applying just to cars and light commercial vehicles (utes and vans) market. In just months, the scheme has created a surplus of roughly 16 million “NVES unit”...

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