Today's Sydney Morning Herald has a brief summary and the recommendations are a little disappointing (if not surprising). The good point is that it recommends a domestic cap-and-trade system (with fees for exceeding permit requirements - which makes it more like a hybrid cap-and-trade / carbon tax).
Other features of the report according to the SMH:
- The scheme "must not overtly harm the economy" (so it will be restricted to measures that covertly harm the economy??)
- too early to set a target until more modelling has been done
- would not be introduced until at least 2012
- revenue from the scheme should be used to support low emission technologies
- no mandatory renewable energy target.
I'll try and put up a summary of the main recommendations shortly after midday...