Climate Change Authority established

Bernie Fraser to chair climate body

Nine News

Mr Fraser will bring to the Climate Change Authority (CCA) decades of experience in economic policy, having been Treasury secretary from 1984 to 1989 and RBA chief from 1989 to 1996.

When the carbon pricing scheme moves from a fixed to a floating price in 2015, the government plans to put annual caps on the amount of carbon pollution that can be released into the atmosphere by firms covered by the carbon price.

The CCA will recommend medium and long-term carbon pollution targets, look at progress towards emissions cuts and advise on the impacts on the economy. It is expected to conduct public reviews and make its findings public. The CCA's first review is due to be completed by February 2014.