A fundamental environmental concern that calls for urgent action is limiting carbon emissions globally and lessening the pernicious effects of climate change. Australia aims to cut carbon emissions by 26-28% from 2005 levels by 2030. Carbon pricing can be a powerful market-based economic tool for reducing carbon emissions and mitigating climate change. This chapter investigates the influence of different carbon price levels on carbon emissions by first adding different carbon price levels into electricity pricing and then using econometric techniques such as the Autoregressive Distributed Lag Model (ARDL) model and the Granger causality based on the vector error correction model (VECM) framework. This study carried out different scenario analyses using quarterly data from 2001:Q3 to 2019:Q1. The empirical results demonstrate a stable relationship between wholesale electricity pricing with full carbon price passthrough and carbon emissions over the long term, with a 1% increase in whole
Cities release 70% of CO2 emissions and utilize two-thirds of global energy production, while buildings consume more than one-third of global final energy consumption; thus, growing energy-usage efficiency in buildings provides more opportunities for sustainable development.