Australia, today, introduced carbon tax in it effort to curb carbon emission and encourages renewable energy usage.
The law forces about 300 of the worst-polluting firms to pay a A$23 (£15; $24) levy for every tonne of greenhouse gases they produce.
The government says the tax is needed to meet climate-change obligations of Australia - the highest emitter per-head in the developed world.
Environmentalists have broadly backed the scheme, but there have been large public protests against it.
The government also hopes that the legislation will force innovation in renewable energy supplies, and free the country from its reliance on fossil fuels.
Speaking to newsmen, Prime Minister Julia Gillard says it is the only realistic way of meeting Australia's climate-change obligations.
"Businesses have got themselves ready for carbon pricing. New investments are being made."
Australia currently accounts for 1.5% of the world's emissions, but it is the developed world's highest emitter per head of population thanks to its relatively small population.
Australia's mining firms, airlines, steel makers and energy firms are among those expected to be hardest hit by the Clean Energy Act.
Domestic fuel bills are expected to rise as companies pass on the costs to consumers.
Culled from BBC, rewrite/Don/01July2012
Sent from my BlackBerry® wireless handheld from Glo Mobile.
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